Tags: Costco | Same-store | Sales | Retail

Costco November Same-Store Sales Miss Expectations

Thursday, 05 Dec 2013 09:54 AM

Costco Wholesale Corp.'s November same-store sales fell short of analysts' expectations, as lower gasoline prices and weak foreign currencies dampened a five percent increase in the company's monthly net sales.

Sales at stores open at least a year rose 2 percent in the four weeks ended Dec. 1, including the impact of fuel sales and foreign exchange.

On that basis, analysts expected same-store sales to rise 3.3 percent for the month of November, according to Thomson Reuters data.

November net sales rose 5 percent to $8.78 billion.

Excluding the negative impact of foreign exchange and falling gasoline prices, same-store sales rose 4 percent.

For the twelve-week first quarter ended Nov. 24, the company reported net sales of $24.47 billion, an increase of five percent.

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. It usually prices gasoline lower than competing stations.

© 2017 Thomson/Reuters. All rights reserved.

 
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Costco Wholesale Corp.'s November same-store sales fell short of analysts' expectations, as lower gasoline prices and weak foreign currencies dampened a five percent increase in the company's monthly net sales.
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2013-54-05
Thursday, 05 Dec 2013 09:54 AM
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