Costco's E-Commerce Sales Were Up Over 100% in May
April was a tough month for retailing giant Costco (NASDAQ: COST). After achieving March highs while customers stocked up for the coronavirus pandemic, Costco saw April sales decrease for the first time in 10 years as people stayed home and the company had to close some departments in accordance with government regulations. However, May sales bounced back big, with a 7.5% increase in sales year over year to $12.55 billion.
Costco, unlike most publicly traded companies, releases monthly earnings reports. The May earnings report included the four weeks ended May 31. Although it was solid all around, Costco saw a 105% increase in e-commerce, which is crucial for the company as it competes with the likes of Walmart and Target, who are both succeeding in that area.
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Source Fool.com
