Costco said its CE comp sales were flat in June.
The No. 1 wholesale club shared the results as part of its monthly sales report, which serves as a bellwether of full-line retail activity.
The soft electronics comp suggests a disappointing season for tech (at least compared with last year), when gifts for grads, dads and newlyweds traditionally goose CE sales.
Costco includes CE within its hardlines merchandising group, which was up by the low single-digits last month.
Conversely, media and small appliances were among the better performers within its softlines category, whose comps rose by the low- to mid-single digits, the company said.
Costco’s net sales were up 3 percent to $11.3 billion for the five weeks ended July 3, and U.S. comp sales, excluding the impact of lower gasoline prices, edged up 2 percent. While an irksome changeover of its membership/credit card, from American Express to Visa, could account for some of the sluggishness, the numbers suggest muted consumer demand overall.
The chain ranked 6th on TWICE’s latest Top 100 CE Retailers listings, with just over $5.5 billion in tech sales last year.