This post was originally published on this site
Costco Wholesale Corp.’s pandemic sales surge continued to grow in September.
Costco COST, +1.30% reported September revenue of $16.84 billion, up 16.9% from the same month a year ago. That growth is an increase from strong quarterly results the membership-based warehouse retailer shared last month, when net sales grew 12.5%.
Same-store sales also managed to top strong previous results, rising 15.5% as shoppers continue to stock up during the COVID-19 pandemic. Costco produced the best quarterly same-store sales growth on record, 11.4%, in the most recently completed quarter. Costco reported monthly gains of 13.2% in each of the previous two months, but September benefited from the shift of Labor Day weekend in the U.S. and the Moon Festival in Asia into the month this year.
Costco shares were steady in after-hours trading immediately following the report, after closing with 1.3% gain at $363.02. The stock has gained 23.7% in the past year, as the S&P 500 index SPX, +1.74% has increased 13.9%.
