Costco February same-store sales rise 6 pct, beat estimates
March 7 |
March 7 (Reuters) - U.S. retailer Costco Wholesale Corp posted a 6 percent rise in comparable sales in February, beating Wall Street expectations, helped by higher fuel prices.
Analysts were expecting sales at stores open more than a year to rise 5.1 percent, including the effects of fuel and foreign exchange, according to Thomson Reuters Data.
Net sales at the largest U.S. warehouse operator rose 8 percent to $7.58 billion for the four-week period ended March 3. Sales for the 12 weeks ended Feb. 17 also increased 8 percent, to $24.34 billion.
David Sherwood, Costco's director of finance and investor relations, said in a pre-recorded conference call that the company's February sales were driven by Texas, the U.S. Southeast, Northeast and Midwest.
Internationally, Canada, Taiwan and Mexico boosted results.
Costco competes with Wal-Mart Stores Inc's Sam's Club and privately-held BJ's Wholesale.
It sells everything from groceries to car accessories.
- Tweet this
- Share this
- Digg this