Costco

The Issaquah, Wash.-based warehouse club chain posted double-digit net and comparable sales growth for its fiscal 2022 fourth quarter and full year, while ...

“These 25 planned net new openings are made up of 15 in the U.S. “In fiscal ’23, we expect to open 29 new warehouses, including four relos, for a net of 25 new warehouses,” Galanti said in the analyst call. “Additionally, the company continues to open new clubs in the U.S. (10.4% adjusted), 15.2% in Canada (12.1% adjusted) and 6.6% internationally (13.4% adjusted). “In terms of membership fees and a possible increase, there are no specific plans regarding a fee increase at this time,” according to Galanti. “In terms of the Q4 comp-sales metrics, traffic or shopping frequency increased 7.2% worldwide and was up 5.2% in the U.S. They were up 20% in the quarter.” For the fourth quarter, and talking with our merchants, the estimated price inflation overall was about 8%, a little higher on the food and sundries side, a little lower on fresh foods, and both higher and lower on the nonfood side.” And in other businesses, travel and business centers performed best relative to the prior fiscal fourth quarter results.” “Stronger departments in terms of year-over-year percentage increases were tires, lawn, patio and garden, prescription pharmacy and health and beauty aids,” said Galanti. Total comparable sales in the quarter climbed 13.7% from a year ago (10.4% adjusted, excluding fuel and FX), reflecting gains of 15.8% in the United States (9.6% adjusted), 13.4% in Canada (13.7% adjusted) and 2.9% internationally (11.3% adjusted). Our average transaction or ticket was up 6% worldwide and 10.0% in the U.S.