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Costco posts 10.6% June net sales growth and lifts comparable sales
June comparable sales rose 8.8%, with e-commerce comparable sales up nearly 21% for the five week period ended July 5.
Costco Wholesale reported June net sales of $29.24 billion, representing a 10.6% year over year increase for the five week retail period ended July 5, according to Yahoo Finance.
The company said June comparable sales increased 8.8% overall, including a 10% gain in the United States, a 3.7% rise in Canada, and a 4.7% increase in international markets. E-commerce comparable sales were up nearly 21% for the month.
Costco also reiterated that its membership model is central to its profit engine, operating with low gross margins while aiming to drive earnings through recurring membership fees rather than product margins, as described by Yahoo Finance.
Looking ahead, the outlet highlighted catalysts including continued membership growth and high renewal rates, e-commerce strength, and expansion of international warehouse locations. Yahoo Finance further cited analyst calls that include price targets ranging from $1,100 to $1,200 for Costco, with Bernstein listing it as a top pick for the second half of the year.