Nov 1 U.S. retailer Costco Wholesale Corp
posted a better-than-expected 7 percent rise in October
sales at stores open at least a year, helped by higher gasoline
prices and a weak dollar.
Analysts had expected a rise of 6.6 percent, including the
impact of fuel prices and foreign exchange, according to Thomson
Excluding the effects of fuel and currency exchange, Costco
posted an October same-store sales increase of 5 percent.
The company said net sales rose 9 percent to $7.67 billion
in the four weeks to Oct. 28.
David Sherwood, Costco's director of finance and investor
relations, said in a pre-recorded conference call that Costco
had several warehouses closed after power outages caused by
Hurricane Sandy. These closures are expected to have a marginal
impact on November sales, Sherwood said.
"At this point in time it is too early to estimate the total
sales loss from the closings," he said. "None of the warehouses
suffered extensive damages."
The company said that it plans to open up to ten additional
warehouses by the end of the year.