Costco reports drop in fresh food sales

Costco's net sales rose, but its sales of fresh foods suffered in Q3 2023, Costco Chief Financial Officer Richard Galanti said on the company's quarterly earnings call.

The Seattle, Washington, U.S.A.-based retailer, which operates 847 stores globally, said its net sales increased 8.1 percent to USD 53.44 billion (EUR 50 billion) compared to the same quarter in fiscal-year 2022. Its store traffic increased 3.9 percent worldwide and up 2.2 percent in the U.S., while the average transaction size jumped 6.9 percent in the U.S.

However, fresh food sales declined, Galanti said …

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