Costco Wholesale Corporation (COST)
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Apr 24, 2026, 2:45 PM EDT - Market open
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Monthly Sales Update September 2025

Oct 8, 2025

Andrew Yoon
Director of Finance and Investor Relations, Costco Wholesale Corporation

Hello. I'm Andrew Yoon, Director of Finance and Investor Relations, and I'll review our sales results for the five-week retail month of September, which started on Monday, September 1st, and ended on Sunday, October 5th. This period is compared to the five weeks that began last year on Monday, September 2nd, and ended on Sunday, October 6th. This call will include forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements involve risks and uncertainties that may cause actual events, results, and/or performance to differ materially from those indicated by such statements. The risks and uncertainties include, but are not limited to, those outlined in today's call and sales release, as well as other risks identified from time to time in the company's public statements and reports filed with the SEC.

Forward-looking statements speak only as of the date they are made, and the company does not undertake to update them except as required by law.

Comparable sales and comparable sales excluding impacts from changes in gasoline prices and foreign exchange are intended as supplemental information and are not a substitute for net sales presented in accordance with U.S. GAAP.

As reported in our release, net sales for the month came in at $26.58 billion, an increase of 8% from $24.62 billion last year. Reported comparable sales for the month were as follows: U.S., 5.1%; Canada, Other International, 8.5%; Total Company, 5.7%; Digitally Enabled, 26.1%. Starting with this sales release, we changed our e-commerce comparable sales metric to Digitally Enabled comparable sales. This metric now includes all sales Delivered to members that are initiated through a digital device, whether fulfilled through a warehouse or a distribution center, and Costco Travel.

Comparable sales for the month, excluding the impacts from changes in gasoline prices in foreign exchange, were as follows: U.S., 5.0%; Canada, Other International, 7.5%; Total Company, 6.0%; Digitally Enabled, 26.3%. Last year's total and comparable sales benefited by approximately 2% in the U.S. and 1.5% worldwide as a result of increased sales due to abnormal consumer activity associated with Hurricane Helene and port strikes. Our comp traffic or frequency for the month was up 2.1% worldwide and 1.4% in the U.S. Foreign currency year over year relative to the U.S. dollar impacted total and comparable sales as follows: Canada negatively by approximately minus Other International positively by approximately 1%; and Total Company negatively by approximately minus 0.2%. Gas price deflation remained relatively flat and negatively impacted total reported comp sales by less than 10 basis points.

The average worldwide selling price per gallon was down less than $0.01. Worldwide, the average transaction was up about 3.5%, which includes impacts from gas deflation and FX. Excluding gas deflation and FX, average transaction was up about 3.8%. In terms of regional and merchandising categories, the general highlights were as follows: U.S. regions with the strongest comparable sales were the Northwest, Midwest, and Los Other International and local currencies, we saw the strongest results in Korea, Australia, China, and Taiwan. In Korea, Taiwan, and China, we saw a lift in comparable sales due to the holiday shift of the Moon Festival and Chuseok, helping drive the strong results in those markets this month. The negative impact of cannibalization was approximately minus 60 basis points for the Total Company. Moving to merchandising highlights, the following comparable sales results by category for the month exclude the impact of foreign exchange.

Food and Sundries were positive mid-single digits. Better performing departments include Candy, Cooler, and Deli. Fresh Foods were up mid to high single digits. Better performing departments included Meat and Bakery. Non-Foods were positive high single digits. Better performing departments included Jewelry, Majors, and Health and Beauty. Ancillary Business sales were up mid-single digits. Pharmacy, Hearing Aids, and Optical were the top performers. Gas was up low single digits driven by volume increases year over year. Looking ahead, the October reporting period will include four weeks beginning October 6th and ending November 2nd, compared to the four weeks beginning October 7th and ending November 3rd, 2024. If you have any investor relations questions, please call Josh Dahmen at 425-313-8254 or me at 425-313-6305. This recording will be available until 4:00 P.M. Pacific Time, Wednesday, October 15th.

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