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Costco's online sales grow to $1.22 billion a year

Sep. 25, 2007

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For the whole year, Costco's Wholesale division grew its eCommerce sales by close to 39 percent, to $1.22 billion, compared with online sales of just $880 million last year.

Meanwhile, total corporate revenues increased by about 7 percent, and same-store sales by a little less than 6.1 percent for 2007.

Costco is ranked as No. 21 in the Internet Retailer Top 500 Guide, and reported net income of about $1.08 billion on revenue of $64.4 billion for this fiscal year, compared with net income of $1.1 billion on sales of $60.1 billion for 2006.

The Internet accounted for about 2 percent of Costco's total sales for the year, and the company is determined to grow its eCommerce division even more going forward.

Costco's CFO Richard Galanti said to analysts "Costco.com did very well. E-Commerce sales rose by over 36 percent in Q4."

However, Costco didnít offer any earnings estimates or sales forecasts for 2008.

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Source: Internet Retailer



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