Dive Brief:
- Costco says its same-store sales rose 6% in May, topping analyst forecasts of a 4.6% rise.
- The company operates 657 warehouse stores around the world. Global same-store sales rose 7%, as U.S. sales rose 4%.
- The big box discount retailer also announced plans to open six more locations before the end of its fiscal year in August.
Dive Insight:
Costco is doing quite well this year even as its rivals struggle to get their footing. For the first quarter, Costco saw its revenue rise, whereas rival Wal-Mart continues to warn of trouble ahead.
Of course things may look quite different soon if Amazon's attempt to compete against the warehouse clubs gains any traction.