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Costco and Dollar Stores Post Quarterly Increases in Sales

06/04/2019

Costco considered a retail bellwether, announced that same store sales increased by 5.6 percent for the first quarter ending May 12th. Sales excluded fuel. Concurrently, E-commerce sales increased by 20 percent. During the quarter, Costco established a strategic partnership with Instacart to offer same-day grocery delivery to compete with Amazon and Walmart.

Sales increased at both Dollar General and Dollar Tree in contrast to traditional mall-based retailers such as Gap that posted a four percent decline for the quarter ended May 4th with individual brand sales declining by ten percent for Gap, three percent for the Banana Republic and one percent for Old Navy.

Spokespersons for the retail sector cite as reasons for falling sales as lower tax refunds to consumers, inclement weather and the reluctance to spend as factors depressing traditional retail. Most companies have expressed concern over inevitable rises in price as tariffs are passed on to customers.