Costco Wholesale’s monthly sales fell for the first time since the recession, as stay-at home orders and social-distancing restrictions reduced shopper traffic and some parts of stores offered limited service.
Comparable sales, those from stores and digital channels operating for at least 12 months, fell 0.5%, excluding the impact of gasoline and currency fluctuations, for the four weeks ended May 3. Including those items, sales fell 4.7% as low gas prices further pushed sales down.
“April sales were negatively impacted by Covid-19,” said the company, one of the few retailers that still reports monthly sales. Costco cited stay-at-home orders, social-distancing restrictions and some mandatory closures for the lower traffic and sales, as well as scaled-back service in areas such as the food court and optical department.