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Costco: October Comparable-Store Sales Update

Thomas Paulson
Nov 4, 2022
Costco: October Comparable-Store Sales Update

  • For the U.S., Costco's October comparable-store sales (ex-gas) increased +6.1%, which was a deceleration from +8.0% in September. The three-year CAGRs were little changed MoM.
  • Traffic decelerated to +1.7% (versus +2.6% in September), while ticket (ex-gas) was approximately +4.4% higher (versus +5.4% in September).
  • Fresh decelerated to mid-single-digit growth as inflation moderated for the category (compared to high-single-digit growth in the prior months). Food & Sundries grew by a low-double-digit-clip, which is consistent with prior months. Non-foods decelerated to low-single-digit growth (versus roughly mid-single-digit growth in the prior months).

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Thomas Paulson

Director of Research and Business Development, Placer.ai

Thomas Paulson spent 20 years as a Wall Street analyst and a member of asset management teams at AllianceBernstein and Cornerstone Capital, representing top-50 ownership positions including Target, Home Depot, Nike, Amazon, Google, and many more.

He brings consumer related expertise and knowledge of enterprises in retail, CPG, financial services, telecom, and entertainment.

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