Costco.com is the newest member of the online billion dollar sales club.
For the year Costco Wholesale Corp. grew its e-commerce sales by about 39% to $1.22 billion compared with web sales of $880 million in fiscal 2006.
At the same time total revenue rose by 7% and same store sales by 6%. The company, No. 21 in the Internet Retailer Top 500 Guide, reported net income of $1.08 billion on revenue of $64.4 billion for the 2007 fiscal year compared with net income of $1.1 billion on sales of $60.1 billion in the prior year. Amazingly, the Web still accounted for only 2% of total sales.
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