Another year, another thoroughly solid retail performance from Costco.
The retailer’s CFO has said previously that the company didn’t “see e-commerce taking over our brick and mortar.” That may be — Costco’s online growth is still dwarfed by that of fellow brick-and-mortar stalwart Walmart — but the retailer is still making headway without sacrificing profit.
Cowen and Co. analysts led by Oliver Chen pointed out in a client note Thursday that Costco’s online growth was “driven by strong performance in majors, including electronics and appliances, as well as continued robust growth in online grocery” as well as through new product listings such as KitchenAid appliances, Weber Grills, beauty products and assorted “treasure hunt” items.
