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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 " 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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