May 9, 2013 / 7:36 AM / 5 years ago

Costco April same-store sales miss expectations

May 9 (Reuters) - U.S. warehouse club chain Costco Wholesale Corp reported April same-store sales that missed analysts’ estimates, hurt by lower fuel prices and a stronger dollar.

The company, which has gas stations at its stores, said total April sales at stores open at least a year rose 4 percent.

Analysts on average were expecting sales to rise 4.5 percent, including the effects of fuel and foreign exchange, according to Thomson Reuters Data.

Costco sells items ranging from dog food to diamond rings and operates 627 warehouses around the world, including 449 in the United States and Puerto Rico.

Excluding the impact of fuel and foreign exchange the company said total April same-store sales rose 6 percent.

Net sales at the Issaquah, Washington-based retailer rose 7 percent to $7.98 billion for the four-week period ended May 5.

Costco is the largest U.S warehouse club chain and competes with BJ’s Wholesale Club and Wal-Mart Stores Inc’s Sam’s Club.

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