July 10 Costco Wholesale Corp reported
June same-store sales that beat analysts' estimates, helped by
higher fuel prices.
Sales at stores open at least a year rose 6 percent in the
five-week period ended July 7, including the impact of fuel and
Analysts expected same-store sales to rise 5.4 percent for
the month of June, according to Thomson Reuters data.
Higher gasoline prices offset the negative impact of foreign
exchange rates on the comparable sales, the company said in a
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 and usually prices gasoline lower
than competing stations.
June net sales rose 8 percent to $9.92 billion.