CE Buoys Costco’s Feb. SalesIssaquah, Wash. — Costco reported an 8 percent increase in February sales due in part to a strong showing in CE. 3/07/2013 05:03:00 AM Eastern
Issaquah, Wash. — Costco reported an 8 percent increase in February sales due in part to a strong showing in CE.
Net sales hit $7.6 billion for the four weeks, ended March 3, and U.S. comps excluding gasoline rose 6 percent.
Continuing a 10-month trend, the No. 1 wholesale club described electronics as one of its “better performing” hardlines categories, contributing to a slightly better than mid-single-digit comp gain for the hardlines sector.
In a research note, Janney retail analyst David Strasser described CE as a “notable outperformer in February,” and said its resurgence at Costco bucks industry trends.
Elsewhere, Alco Stores, the 217-store broadline discount chain, said February sales rose 3.3 percent to $36.4 million and comp sales were flat, both excluding gasoline, due to the impact of two major snowstorms across the Central U.S. last month.