Comparable results were best among the company's hearing aid, optical and pharmacy categories, Jeff Elliott, AVP financial planning and investor relations, shared in a pre-recorded call for investors.
Costco’s first quarter of FY16 saw an increase of 2% in U.S. sales and an overall dip of 1% for the company's entire operation.
Vitamins have made a comeback.
Attendance at the event, presented by Drug Store News, reached record levels, with 40 retailers and more than 240 supplier participants.
Costco’s comparable sales saw no growth for the month of November and a dip of 1% for the first quarter of FY2016, whose operating results the company plans to release on Dec. 8.
Though Costco’s U.S. sales saw a 1% increase over both the four weeks and nine weeks ended Nov. 1 compared to last year, its Canadian stores saw an 8% decrease in comparable sales.
Costco’s U.S. stores saw a slight lift in comparable sales as international stores — particularly in Canada — saw comps drop.
Costco’s fourth quarter and annual results might not look impressive on paper, but adjusting for gas prices and a strong dollar, the company had a good quarter and is planning to open 12 new stores by the year’s end.
The company noted that with Labor Day coming a week later this year, pre-sales didn’t bein in August and that had a lowering effect on net sales of about 1%.
See photos from Costco and Drug Store News’ networking reception in honor of Michael Mastromonica’s retirement from his position as Costco’s AVP pharmacy in Denver for NACDS Total Store Expo.