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Costco December Sales Top Estimates

ISSAQUAH, Wash. — Costco Wholesale here on Thursday said same-store sales increased by 9% in December — a figure that exceeded analyst estimates of 6.2% growth.

Comps in U.S. stores improved by 8%, Costco added.

The membership warehouse club said sales growth was driven by positive same-store sales in all categories, led by food and sundries and aided by slight price inflation. Costco also said fresh food sales improved behind increases in produce and deli and in spite of slight deflation in meats.

Read more: Costco Expects Strong Demand

An extra day in the reporting period compared with the same period a year ago contributed around 2% to same-store sales. Store traffic was up by 3.5%, and average ticket increased by 5% in the five-week period, which ended Dec. 30.

Net sales for the period increased 12% to $11.2 billion.

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