Costco E-Commerce Sales 90% Higher in Q3's Last 4 Weeks, Says CFO
Mexico, Costco’s main TV supply chain, was “a few weeks behind China in terms of getting back to normal” after the COVID-19 factory shutdowns, said Chief Financial Officer Richard Galanti on a fiscal Q3 call Thursday. “Each week is showing…
Sign up for a free preview to unlock the rest of this article
Export Compliance Daily combines U.S. export control news, foreign border import regulation and policy developments into a single daily information service that reliably informs its trade professional readers about important current issues affecting their operations.
improvement.” U.S. customer foot traffic in the quarter ended May 10 was down 2% from a year earlier, he said. Same-store sales were up 5.9%, but e-commerce sales soared 64.5%, said Galanti. Breaking down the quarter that began Feb. 17 into three four-week periods, e-commerce in the first four weeks was up about 25%, then jumped 50% in the next four and 90% in the final four, he said. E-commerce order fulfillment and delivery “worked pretty smoothly during the quarter despite dramatic volume increases,” he said.