Costco thrives in July, starts installing card-scanning tech

Costco rang up another successful month, as net sales for July came in at $19.26 billion, a 7.1% year-over-year increase. 

Comparable sales in the U.S. were 5.3% better than a year ago while ecommerce sales were 20.2% higher. Excluding gasoline, comparable sales in the U.S. were 6.3% better vs. July 2023. 

Net sales over the first 48 weeks of fiscal year 2024 stand at $229.81 billion, a 7.1% improvement year over year. 

The robust July earnings report comes as Costco begins installation of card scanners at the entrance of all stores. The Issaquah, Wash.-based company tested the tech earlier this year — which is aimed at preventing card sharing with non-members. 

“Over the coming months, membership scanning devices will be used at the entrance door of your local warehouse,” Costco said in a statement. “Once deployed, prior to entering, all members must scan their physical or digital membership card.” 

Members are still able to bring in guests. 

A little over a year ago Costco made the move to require members to provide a driver’s license along with their membership card if they wanted to use self-checkout. The move was aimed at prohibiting membership sharing and shoplifting. 

The retailer said the card-scanning tech will prevent workers from asking for membership cards at registers and self-checkout. 

Related:Costco membership raised by $10

Costco has 617 U.S. locations as of July 22, according to data from ScrapeHero.