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Costco's January sales up 8.4% YOY

Costco Wholesale Corp.'s sales in January rose 8.4% to $12.24 billion from $11.29 billion in the same period in 2017, according to a Feb. 7 announcement.

Total comparable sales for the five-week period ended Feb. 4 were up 6% year over year, while e-commerce comparable sales grew 34.8%.

The Washington-based retailer said the calendar shift of New Year's Day had a negative impact to its total and comparable January sales by about 3%, with the five-week retail month having one less shopping day compared to last year. The company said sales for the month were also negatively impacted by about 3% because Chinese New Year will occur in February this year as compared to the event happening in January last year.

Meanwhile, Costco's net sales for the first 22 weeks of the fiscal year ending Aug. 31, came in at $58.30 billion, up 11.6% from $52.26 billion a year ago.