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Costco's April sales fell as consumers eased off panic buying

Earns Costco
Posted at 10:56 AM, May 08, 2020
and last updated 2020-05-08 13:56:18-04

Costco's April sales fell as consumers eased off panic buying due to the pandemic. That's the first month that Costco's sales have dropped in years.

The company says the numbers were down in April because of stay-at-home orders and social distancing restrictions. There were also mandatory store closures in some areas.

Popular services like food courts and travel bookings were closed.

Prior to April, Costco profited from shoppers panic buying in bulk to gear up for the coronavirus pandemic. Costco's digital sales soared in April, however, rising 87-percent as consumers hunkered down at home.