Costco is keeping a busy schedule as of late as it continues to develop and advance its plans for growth. Within the past few months alone, Costco has opened new warehouses in several markets and expanded its self-service stations across the country. These plays for expansion weren’t for naught, however, as the retailer announced a major increase in sales revenue for the end of its fiscal year.
As restrictions have taken place over the last year and a half, consumers have turned to the retail chain for many bulk necessities. This is evident as the retailer reported in a recent release net sales of $15.75 billion for the retail month of August, an increase of 16.2 percent from $13.56 billion last year, which is roughly similar to the retailer’s July Results report.
With the end of its August sales month, the retailer closed out its fourth quarter and fiscal year, which ended on August 29, 2021. According to the release, the company reported a 17.4 percent increase in its quarterly net sales compared to a similar period from last year, jumping from $52.3 billion to $61.4 billion, a more than $9 billion boost to its quarterly sales.
Overall, the retailer saw a 17.7 percent increase in its 52-week fiscal year. During a similar period for its 2020 fiscal year, Costco saw an increase from $163.2 billion to $192.1 billion, an almost $29 billion gain. Additionally, the retailer saw a 42.6 percent increase in its e-commerce, proving the necessity of online and grocery delivery for consumers during these times.
Click here for more information on Costco’s financial results.
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