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On 12/1/21, Costco Wholesale reported sales results for November 2021. The reported results of $18.13 Billion was an increase of 15.7% compared to the $15.67 Billion during November of 2020. Like previous months, we will see November remained a solid sales month for Costco both domestically, and abroad once all things have been considered. Due to COVID, November comps look strong year over year compared with the November 2020 numbers.

November comps for e-commerce were up by 12.2%. As mentioned over the past few months, the comps have finally caught up to the strong growth experienced in e-commerce from last year. For instance, last November, e-commerce was up over 70%+. To recap, Costco’s e-commerce segment performance includes US, Canada, United Kingdom, Mexico, Korea, Taiwan, Japan, and Australia.


November Sales Numbers:

Comparable sales in the United States were up 14.3%. Canada was up 15.7%, while other international sales were up by 11.0%. Overall, total company comparable sales increased by 14.1%. Overall, these figures suggest healthy customer traffic and spending.


Comparable Sales (Nov ‘21)

U.S. 14.3%
Canada 15.7%
Other International 11.0%
Total Company 14.1%
E-Commerce 12.2%

The same as previous reports, we will look at comparable sales excluding gasoline price deflation and foreign exchange impacts. This view of the sales gives us a clearer view of comparable sales growth (or decline) if all other factors remained the same.


Comparable Sales (ex-Gasoline Price & Foreign Exchange - Nov ‘21)

U.S. 9.1%
Canada 7.6%
Other International 11.3%
Total Company 9.2%
E-Commerce 11.7%

As restrictions continue to lift across the United States, Costco appears to be benefitting from greater traffic and spending. With the COVID Delta variant becoming more of an afterthought, we will continue to watch performance in the upcoming months.

Approximately 69% of Costco’s 824 warehouses are located within the United States. This leaves roughly a third of Costco’s warehouses exposed to potential positive or negative impacts from a strong US Dollar as well as fluctuations in food and gasoline prices.


Link to Press Release(s):

https://investor.costco.com/news-releases/news-release-detai...


If you like this type of coverage and would like to see more of it, let me know by hitting the "Recommend It!" button or leave a comment.


CMFHeavyMetal

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Ticker Guide for Costco Wholesale (COST), Facebook (FB), iQiyi (IQ), Magellan Midstream Partners (MMP), OrganiGram Holdings Inc. (OGI), Pegasystems Inc. (PEGA), Retail Opportunity Investments Corp. (ROIC), & Upwork (UPWK)
Disclosure: May own shares of some, or all of the companies mentioned in this post. (http://tinyurl.com/HM-Disclosure)
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