Costco Wholesale Corporation is trading as Costco.This is an American multinational corporation. Costco operates a chain of warehouse clubs, which are, in fact, membership-only.
As of 2015, Costco was ranked the world’s 2ndlargest retailerafter Walmart. As of 2016, Costco was the largest retailer of choice and prime beef, organic foods, rotisserie chicken, and wine across the world.
The 3rdquarter of fiscal 2018 brought a tremendous success for Costco Wholesale Corp. Costco’s eCommerce sales grew just incredibly. This resulted in strong growth in net sales, which accounted for $32.28 billion, up 10.8% year-over-year (YoY).
The calendar shift of Thanksgiving and Black Friday into the 1stquarter significantlyaffected Costco’s eCommerce business. Total online sales rose 28.5% in the quarter. The eCommerce business grew by 35% for the overall 24-week period.
For Q3, the eCommerce sales increased 36.8% across all operations. This refers to sites both in the US Canada, the United Kingdom, Mexico, Korea, and Taiwan. The year-to-date growth represented 36.1%.
As for Q3, net sales went up 12.1% to reach $31.6 billion, compared with $28.2 billion in the previous year. US comparable-store sales for the period accounted for 9.7%, as compared to the same period last year, and 10.2% for the company on the whole.
Recently, Costco Corp. has given special attention to Internet sales or online business. The results are worth it. Many of the items you can find in the company’s monthly sales promotions are also represented online.
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Today, Costco operates 749 warehouses. 519 of them are found in the US and Puerto Rico. 98are located inCanada, 38 in Mexico, 28 in the UK, 26 in Japan, 14 in South Korea, 13 in Taiwan, 9 in Australia, 2 in Spain, and 1 in each of Iceland and France. The Corp. operates an eCommerce business in the US, Canada, the UK, Mexico, South Korea,as well as in Taiwan.
Author Bio: Electronic payments expert Blair Thomas co-founded eMerchantBroker, serving both traditional and high-risk merchants by offering a merchant account Puerto Rico and other services. His passions include producing music and traveling.