Sept 5 Costco Wholesale Corp's August
same-store sales pipped analyst estimates, even as lower fuel
prices and weak foreign exchange rates weighed on the U.S.
warehouse club retailer's comparable sales.
Sales at stores open at least a year rose 4 percent,
including the impact of fuel and foreign exchange, in the
four-week period ended Sept. 1.
On that basis, analysts had expected same-store sales to
rise 3.8 percent for the month of August, according to Thomson
Net sales for the month of August rose 7 percent to $7.95
billion, while fourth quarter sales rose 1 percent to $31.8
billion, the company said.
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.
The company would open 15 new warehouses by the end of year,
Jeff Elliot, assistant vice president of financial planning and
investor relations, said in a pre-recorded conference call.