Costco (NASDAQ: COST) continues its extraordinary run as the most successful big box retailer. Its “club membership” system has bettered the more traditional store operations of Wal-Mart (NYSE: WMT) and Target (NYSE: TGT). Net sales for the quarter which ended May 6 increased 8%, to $21.85 billion, from $20.19 billion last year. Net sales for the first thirty-six weeks increased 10%, to $65.54 billion, from $59.46 billion last year.
Same store sales were up 5% for the most recent quarter. Costco’s shares trade at $83.50 up from a 52-week high of $70.22. Costco’s revenue per employees was $569,488 compared to $206,117 for Wal-Mart.
Target and Wal-Mart reported numbers which, although good, where much less robust.
Douglas A. McIntyre