July 10 Costco Wholesale Corp reported
a 6 percent rise in June same-store sales that beat analysts'
estimates, helped by higher fuel prices.
Excluding the impact of foreign exchange rates and gasoline
prices, same-store sales rose 6 percent for the five-week period
ended July 6.
Analysts expected same-store sales to rise 5.4 percent for
the month of June, according to Thomson Reuters data.
Costco, which competes with BJ's Wholesale Club Inc
and Wal-Mart Stores Inc's Sam's Club, offers everyday
items such as bananas below supermarket prices, hoping customers
will buy other goods as well and usually prices gasoline lower
than competing stations.
June net sales rose 10 percent to $10.89 billion.
(Reporting By Sudarshan Varadhan; Editing by Gopakumar Warrier)