Costco’s introduction of two-day delivery service CostcoGrocer and expansion of its same-day delivery partnership with Instacart came alongside its fourth-quarter results, which showed a 21% rise in the company’s e-commerce sales.
Costco Pharmacy & Business News
Costco posted net sales of $12.17 billion for the five weeks ended July 2, 2017, up 5% from $11.33 billion during the year-ago period.
Burnett is being remembered for his work as a pharmacy pioneer who helped build and grow Costco’s pharmacy business.
Costco’s first monthly sales report since it beat Wall Street expectations with its Q3 results shows it continuing to right its ship after a difficult Q1 and Q2.
After missing Street estimates for earnings and revenue in its second quarter, Costco returned to form in its third quarter.
The Washington-based retailer reports net sales for the month reached $9.42 billion.
Payout of $7 per share will be made on May 26.
Costco Wholesale is extending its reach into the market for pharmacy and preventive health services, surging past the 500 mark in total pharmacies operating in the United States and expanding its menu of health screenings, immunizations and clinical-care offerings.
The company reported overall net sales of $11.64 billion during the month, an increase of 9% year over year.