March 7 - Costco (COST, Financial) released robust FQ2 figures that surpassed analytical market predictions while strengthening its market control over Walmart (WMT, Financial) and Target (TGT, Financial) in the US retail sector. Across all markets the retailer achieved consistent sales growth totaling around 7% for the quarter as U.S. store sales increased by more than 8% and Canadian store sales rose by nearly 5% while international division raised sales by about 2%.
Strong digital growth during changing customer priorities resulted in a nearly 21% increase of e-commerce performance. The U.S. adjusted comparable sales rose by about 9% beyond market expectations after excluding gas and currency fluctuations according to adjusted figures. Membership fee income exceeded previous levels to reach AU$1.19 billion during the period as the company implements complete fee increases. The company experienced a small increase in net income over the years.
The worldwide network of Costco warehouses expanded to 897 locations which demonstrates how operational resilience and market dominance strengthen the company. The recent financial results confirm company dominance and future business expansion possibilities which creates optimistic conditions for both traditional and online retail operations. Experts predict the company will achieve even higher success during the forthcoming financial period.
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