Costco Wholesale Corp. reported March sales that showed consumers focusing on food and everyday essential items as opposed to home furnishings and other discretionary categories.
The membership warehouse club retailer reported that its net sales increased 0.5% to $21.71 billion for the five weeks ended April 2, compared to $21.61 billion in the year-ago period.
Total company comparable sales fell 1.1%, the first decrease in nearly three years. Comp sales were down 1.5% in the United States and 2.4% in Canada. International comp sales rose 2%. In the U.S., comp sales were strongest in the Northeast, Southeast and Midwest.Chain Storeage