Costco posts Q2 growth as e-retail booms

Costco Wholesale Corp. reported this week that its Q2 net sales rose 14.7 percent to nearly $43.9 billion, from $38.36 in Q2 of 2020. Total revenues of $44.77 billion compared to $39.07 billion a year ago and beat estimates of $43.8 billion. Earnings of $2.14 per share, which include the cost of pandemic wage premiums, beat the forecast of $2.45. Sales through the online channel soared by 75.8 percent, while comp sales in Canada grew by 13.4 percent.