Costco December same-store sales up 9 percent
(Reuters) - Retailer Costco Wholesale Corp (COST.O) has posted a better-than-expected 9 percent rise in December sales at stores open at least a year, mainly helped by an additional sales day in the reporting period.
"This year's December retail month had one additional day compared to last year ... As a result, December total and comparable sales results benefited by approximately 2 percent," said David Sherwood, director of finance and investor relations.
Costco's January sales period will include 34 selling days, as opposed to 35 days last year, he also said on Thursday.
Analysts had expected a 6.5 percent rise in December same-store sales, including the impact of fuel prices and foreign exchange, according to Thomson Reuters data.
Higher fuel prices and a weaker dollar also had a positive impact on comparable store sales, Costco said.
Excluding the effects of fuel and foreign exchange, Costco posted a December same-store sales increase of 8 percent.
The company said net sales rose 12 percent to $11.2 billion in the five weeks to December 30.
(Reporting by Sakthi Prasad in Bangalore; Editing by Dan Lalor)
- Scots independence polls close, UK's future in the balance |
- Islamic State shows captive British journalist in new video |
- Australian PM says police raids follow IS linked beheading plot |
- New evacuations ordered as California wildfire doubles in size |
- Kurds issue call to arms as Islamic State gains in Syria