Costco January same-store sales up 7 percent

NEW YORK (Reuters) - Costco Wholesale Corp (COST.O) on Thursday reported a higher-than-expected 7 percent rise in January sales at its stores open at least a year, helped by strong sales of gasoline and strength in foreign currency.

Analysts, on average, were expecting the company's same-store sales to rise 6.4 percent, according to Reuters Estimates.

Costco, the largest U.S. warehouse club operator, said total sales in the 4 weeks ended February 3 rose 11 percent from the same period a year earlier to $5.11 billion.

It said same-store sales increased 5 percent in its U.S. business and 19 percent internationally.

On a recorded call, the retailer said sales were strong in its deli, candy and automotive businesses and in small appliances, women's apparel and gasoline.

"Our gasoline business in January was very strong as we benefited from the continued inflationary environment," a spokesman stated on the call.

It said the average price for a gallon of gasoline in January was $2.91 compared with $2.23 a year before.

(Reporting by Ritsuko Ando and Nicole Maestri, editing by Gerald E. McCormick)