July 10 (Reuters) - 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 foreign exchange
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 statement.
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.