Costco Wholesale’s (COST) net sales increased 9% to $24.6 billion U.S. in September from a year earlier.
Sales at the warehouse club rose as American consumers loaded up on supplies ahead of Hurricane Helene and a port strike along the U.S. East Coast.
The company said that several Costco outlets saw their store shelves cleared out in September, and that its sales were strongest in the Northeastern U.S.
Comparable store sales at Costco during September rose 6.7%, building on a 5% increase in August. In addition to its quarterly financial results, Costco also reports monthly sales figures.
The September sales were also bolstered by digital or online sales that increased 22.9% year-over-year. Costco has made increasing its e-commerce sales a strategic priority.
The company’s online sales have also gotten a lift from precious metals such as gold bars and silver coins, which are sold exclusively through the Costco website.
Costco recently announced that it will also sell platinum bars to consumers through its online channel.
The stock of Costco Wholesale has risen 62% over the last 12 months and currently trades at $909.10 U.S. per share.
