Costco's March comps rise 9.4% despite a lost shopping day, as digital comps jump 23.3% and net sales hit $28.41B.
Costco $COST Wholesale Corporation COST maintained steady comparable sales growth in March despite a calendar-related headwind from one less shopping day. The retailer’s competitive pricing, quality merchandise, expanding e-commerce business and extensive warehouse network continued to attract value-conscious shoppers.
For the five weeks ended April 5, 2026, Costco reported a 9.4% year-over-year increase in total comparable sales. Regionally, comparable sales rose 8.7% in the United States, 10.7% in Canada and 11.9% in Other International markets. This follows total comparable sales growth of 7.9% in February and 7.1% in January, indicating consistent momentum.
Comparable sales results are notable because March had one less shopping day than the prior year due to the Easter shift, which reduced both total and comparable sales by about one and one-half percent. Well, customer traffic and ticket trends were resilient enough to absorb a meaningful calendar hit and still produce broad-based growth.
On an adjusted basis, excluding the effects of gasoline prices and foreign exchange, U.S. comparable sales increased 6.2%, while Canada and Other International markets posted gains of 5.4% and 6.6%, respectively. Overall, total comparable sales, excluding these factors, grew 6.2% in March, following strong increases of 7% in February and 6.4% in January.
Digitally enabled comparable sales in March surged 23.3%, or 22.5%, when adjusted for fuel and currency impacts. This follows gains of 21.8% and 34.4% registered in February and January, respectively, underscoring sustained momentum in the company’s online channel.
As a result, Costco's net sales for March rose 11.3% to $28.41 billion, up from $25.51 billion in the same period last year. This follows a sales improvement of 9.5% in February and 9.3% in January.
Walmart $WMT Inc. WMT reported robust 4.6% comparable sales growth (excluding fuel) in its U.S. division for the fourth quarter of fiscal 2026, fueled by higher transaction counts and unit volumes. Walmart registered a 24% surge in global e-commerce sales and notable market share gains within households earning more than $100,000. Walmart is aggressively investing in agentic commerce and supply-chain automation to maintain its competitive edge.
In contrast, Target $TGT Corporation TGT faced a decline of 1.5% in net sales and 2.5% in comparable sales in the fourth quarter of fiscal 2025 but projected a return to growth with a small increase in 2026 comparable sales. To achieve this, Target is focusing on reclaiming its merchandising authority and enhancing its loyalty ecosystem through programs like Target Circle 360. Early indications suggest Target is on the right path, as top-line performance accelerated significantly in February 2026.
Costco has seen its shares jump 6.8% in the past year compared with the industry’s growth of 17%.
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From a valuation standpoint, Costco's forward 12-month price-to-earnings ratio stands at 47.86, higher than the industry’s ratio of 32.88. Although the premium multiple may appear elevated, investors often view Costco as a high-quality retail operator supported by resilient comparable sales growth, strong membership retention and expanding digital capabilities.
As long as Costco continues to deliver consistent sales growth and strengthen its omnichannel presence, its premium valuation could remain supported by investors seeking stable growth within the retail sector.
Image Source: Zacks Investment Research
The Zacks Consensus Estimate for Costco’s current financial-year sales and earnings per share implies year-over-year growth of 8.3% and 13%, respectively. For the next fiscal year, the consensus estimate indicates a 7.3% rise in sales and 9.8% growth in earnings.
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Costco currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
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