Costco Wholesale Inc.’s sales rose 24% to $15.59 billion in May, with online sales growing a relatively tame 12% in the month, the retailer said late Thursday.
shares edged lower in the extended session Thursday after the news. The stock ended the regular trading day up 0.9%. It has gained 1.9% so far this year, compared with gains of around 12% for the S&P 500 index
Same-store sales rose 23%, the company said. The month had an additional shopping day, Costco said.
During the height of stockpiling amid pandemic-related shutdowns and stay-at-home health orders, Costco’s online sales skyrocketed, although the boosts were occasionally not enough to offset losses from closed brick-and-mortar stores and lost sales for its travel business, food courts and departments such as optical and photo.