Feb 6 Costco Wholesale Corp's January
same-store sales beat market expectations, even as the warehouse
club retailer recorded weak fuel prices and lower international
sales in dollar terms.
Sales at stores open at least a year rose 4 percent in the
four weeks ended Feb. 2, including the negative impact of
gasoline sales and foreign currency.
On that basis, analysts expected same-store sales to rise
3.3 percent for the month of January, according to a Thomson
January net sales grew 6 percent to $7.99 billion.
Excluding the negative impact of foreign exchange and
falling gasoline prices, same-store sales rose 6 percent.
Costco, which competes with BJ's Wholesale Club Inc
and Wal-Mart Stores Inc's Sam's Club, offers everyday
items like bananas below supermarket prices, hoping customers
will buy other goods as well. It usually prices gasoline lower
than competing stations.
Besides 649 warehouses, Costco also operates online stores
in the United States, Canada, UK and Mexico.