Posted 3/8/2024, 10:37:28 AM
Costco Sales Soar on International and Online Demand; Opens First Sushi Restaurant
- Costco beat earnings and revenue expectations, powered by strong sales growth across stores and online.
- Same-store sales jumped nearly 6% globally, beating estimates, led by international and Canada.
- Membership fee revenue rose to over $1B, indicating growing membership base.
- Costco opened its 6th store in China in the quarter, working towards a goal of 30 new global locations this year.
- Costco is moving into sushi, opening its first fully-operated sushi restaurant near its HQ, with plans for more locations.