Costco's Incredible Sales Momentum Continued in July
Beginning last summer, Costco Wholesale (NASDAQ: COST) posted a series of humongous sales gains. Unsurprisingly, some skeptics wondered whether this sales surge was just a blip caused by the COVID-19 pandemic.
In recent months, Costco has proved the doubters wrong by continuing to post strong sales growth while going up against increasingly difficult year-over-year comparisons. The warehouse club giant did so yet again when it reported its July sales results last week.
For the four-week period ending on Aug. 1, Costco's adjusted comp sales (excluding the impact of gasoline price inflation and currency fluctuations) rose 8% year over year. The company reported solid comp sales growth in all regions of the world, ranging from 8.5% in the U.S. to 5.5% in Canada.
Source Fool.com
