Costco announces December 2022 results! E-commerce sales fell 6.4% year-on-year!

According to foreign media reports, Costco, a North American e-commerce platform, had net sales of $23.8 billion in December, up 7.7% year-on-year, higher than $22.24 billion in the same period last year. As consumers returned to physical stores to shop, the company's e-commerce revenue fell 6.4%.

Costco's comparable sales in December increased 5.5% compared with the same period last year, with a 6.2% increase in the U.S. market and a 4.7% increase in Canada. Sales in other international markets increased 2.5% in December.

Excluding the impact of gasoline prices and foreign exchange changes, total sales in December were up 7.3% from a year ago, with sales in the U.S. up 6.4% and in Canada up 10.9%. Sales in other international markets were up 9.1%, while e-commerce sales were down 5.4%.

In the past 18 weeks ending January 1, Costco's net sales were $82.16 billion, up 7.6% from $76.34 billion last year. At the same time, the company's comparable sales increased by 6.1%, with the U.S. market increasing by 8.1% and the Canadian market increasing by 3.1%. On the other hand, Costco's e-commerce sales fell by 4.8%.

Excluding the impact of gasoline prices and foreign exchange changes, Costco's total sales increased 7.1% in the 18 weeks ending January 1, while e-commerce sales fell 3.4%.

Costco Chief Financial Officer Richard Galanti said at an earnings conference in December that the company plans to open 24 new stores in 2023, including 15 in the United States and nine in international markets, including the Third and Fourth Clubs in China.

Costco has been adding warehouse space. The company plans to open 27 new warehouses next year, including three relocations and 24 new locations. It is reported that Costco added seven warehouses in the first quarter, four in the United States and one in South Korea. It also opened its first warehouses in New Zealand and Sweden. The company's capital expenditures for 2023 are expected to be between US$3.8 billion and US$4 billion.

It is learned that as of now, Costco operates a total of 847 warehouses. Among them, there are 583 in the United States and Puerto Rico, 107 in Canada, 40 in Mexico, 31 in Japan, 29 in the United Kingdom, 18 in South Korea, 16 in China, 14 in Australia, 4 in Spain, 2 in France, and one each in Iceland, New Zealand and Sweden. The company also operates e-commerce websites in the United States, Canada, the United Kingdom, Mexico, South Korea, Taiwan, Japan and Australia.

Editor ✎ Nicole/

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