COVID Impacts Costco Sales
Costco Wholesale Corporation had net sales of $52.28 billion for the fourth quarter of fiscal 2020, an increase of 12.5 per cent compared to net sales of $46.45 billion in the fourth quarter of 2019. Comparable sales in Canada increased 9.1 per cent year-over-year and comparable sales in the U.S. increased 11 per cent. eCommerce sales increased 90.6 per cent compared to the year-ago quarter. Net income for the quarter was $1.389 billion compared to $1.097 billion last year. The quarter was negatively impacted by incremental expense related to COVID-19 premium wages and sanitation costs.