Costco saw ‘abnormal’ shopping behavior over the past month

Costco reported a sales boost in September and early October, driven by shoppers preparing for Hurricane Helene and a looming US port strike.

In its monthly update, the retailer noted that US sales increased by 2 percent and global sales by 1.5 percent.

The unusual spike in sales came as customers rushed to buy essentials like toilet paper and bottled water ahead of the hurricane and port strike.

Most of the jump in sales came in the final week ‘due to abnormal consumer activity associated with Hurricane Helene and port strikes.’

An anomaly in Costco’s accounting, the retail month of September ended on October 6. 

Many residents rushed to pick up essential food and grocery items after a state of emergency was declared in Florida, with empty shelves seen in stores across the state

Although Hurricane Helene had passed and the strike lasted from October 1 to October 3, the surge in demand had a measurable impact on Costco’s overall sales. 

Dockworkers shut down 36 ports from Maine to Texas on April 1 – leading to fears shortages of of food and essentials. 

That lead to panic buying by Americans. before it was called off two days later.

In addition, Hurricane Helene – which tore through the southeastern United States and took more than 185 lives – led to those in the areas it affected stocking up too. 

Hurricane Milton then hit this week, killing at least 16. 

Meanwhile, Costco has cut the prices of several of its popular grocery products. 

The wholesale retailer said it had slashed the cost of Kirkland Signature products including chicken and olive oil by as much as 13 percent. 

Costco is the latest company to enter the so-called ‘price war’ on groceries, after Walmart, Target and Aldi cut costs for consumers earlier this year. 

Americans are feeling increasing pressure as elevated inflation has chipped away at household budgets.