Costco's January sales rise 4.5%, with big boost from e-commerce

By Claudia Assis

Still, January sales cool from December

Costco Wholesale Corp.'s January sales rose 4.5% year over year to $22.08 billion, cooling from holiday-boosted December sales of more than $26 billion.

Costco (COST) same-store sales rose nearly 3%, and e-commerce sales increased 21%, the retail giant said.

Costco's stock fell 0.2% in the extended session, after ending the regular trading day up 1.3%.

Wednesday's report followed news Tuesday that said longtime Costco's Chief Financial Officer Richard Galanti had "confirmed" his plan to step down in March, and that the board had named former Kroger Co. (KR) CFO Gary Millerchip as the company's new CFO upon Galanti's departure.

Galanti, who has been with Costco more nearly 40 years, will remain with the company through January 2025 as an adviser.

-Claudia Assis

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02-07-24 1701ET

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