Issaquah, Wash. — Strength in CE contributed to a 7 percent increase in Costco’s April sales.
Net sales were just shy of $8 billion for the four weeks, ended May 5, and U.S. comp sales rose 4 percent excluding gasoline.
The No. 1 warehouse club cited consumer electronics as one the “better performing” categories within its hardlines sector.
In a research note, Janney Montgomery Scott analyst David Strasser observed that CE’s outperformance continues a pattern that began one year ago, differentiating Costco from industry trends. He also pointed to the chain’s 4.5 percent increase in traffic last month, which he described as one of the strongest traffic trends in retail, and attributed to the company’s growing value proposition.