Costco earned $640 million, $1.45 a share, in the quarter ended November 26, compared with $545 million, or $1.24 a share, in the year-ago period. Analysts had expected earnings of $1.33 a share.
Net sales rose 13.3% to $31.12 billion, better than analysts expected. Total same-store sales 10.5%.
Costco’s comparable E-commerce sales jumped 43.5%. The increase comes as the retailer has been investing to grow its digital capabilities, including a partnership with delivery service firm Instacart to offer two-day and same-day delivery.
Costco “turned in a month for the ages in the current retail environment,” Ken Perkins, analyst at Retail Metrics, told MarketWatch.
Net sales surged 13.2% to $11.26 billion in November, up from $9.95 billion in the year-ago period. Online sales rose 39%, and were up 44% in the 12-week period through Nov. 26, helped by an expanded assortment and faster delivery times.
Costco Wholesale posted a 10.1% increase in revenue amid increases in sales traffic and a big increase in online sales.
Costco’s net sales rose 10.1% to $10.02 billion for the four weeks ended Oct. 29, from $9.11 billion during the similar period last year.
Total same-store sales increased 7.5%, ahead of the Street forecast, with a 7% increase in U.S., and a 9% rise in Canada. Other International comparable sales rose 8.2%. For the second consecutive month, comparable e-commerce sales rose 31%.