By Costco Wholesale Corp. shares ticked higher in the extended session Wednesday after the warehouse club reported rising sales during January, even with a headwind from an earlier Lunar New Year this year.
Costco’s
COST,
+1.32%
January sales rose 6.9% to $16.84 billion, up from $15.76 billion a year ago.
For the 22 weeks ending Jan. 29, sales rose 7.5% to $99 billion, up from $92.1 billion in the year-ago period, the company said.
While same-store sales rose, e-commerce sales declined. Total company same-store sales rose 5.6% for January and 6% for the 22 weeks ending Jan. 29, while e-commerce sales declined 15.4% and 6.4%, respectively.
Costco noted that Lunar New Year occurred on Jan. 22 this year, 10 days earlier than a year ago, and dragged on international sales by 2% and total sales by 0.3%, respectively.
Costco shares rose 1.5% after hours, following a 1.3% gain to close the regular session at $519.91.
