By Lisa Johnston
New products on display at the American International Toy Fair, held in N
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 in hardlines.
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.
This TWICE webinar, hosted by senior editor Alan Wolf, will take a look at what may be the hottest CE products at retail that will be sold during the all-important fourth quarter. Top technologies, market strategies and industry trends will be discussed with industry analysts and executives.