Home Retail Costco June same-store sales up 14 pct, beat poll

    Costco June same-store sales up 14 pct, beat poll


    U.S. warehouse club operator posted a higher-than-expected 14 per cent rise in June sales at stores open at least a year, helped by higher gasoline prices and strengthening foreign currencies.

    At No 100 stood Costco Wholesale Corporation with a brand value of .7 billion. Costco is an American membership-only warehouse club that provides a wide selection of merchandise. In 2014, Costco was the third largest retailer in the United States, by 2015 it became the second largest in the world after Walmart with a revenue of 7 billion. Costco is known for offering low-price, limited-selection "retail treasure hunts", where "one's shopping cart could contain a ,000 diamond ring resting on top of a 64-ounce vat of mayonnaise.

    Net sales at Issaquah, Washington-based Costco rose 18 percent to $8.69 billion for the month of June, the five weeks ended July 3, 2011.

    Analysts were expecting same-store sales to rise 12.7 per cent, including the impact of fuel prices, according to data.

    Excluding the impact of gasoline prices and foreign exchange, comparable June same-store sales were up 8 per cent, Costco said.

    This year’s reporting period included 34 days in the U.S. versus 33 days last year. Costco said the calendar shift positively impacted this year’s total and comparable sales by about two to three per cent.

    Source : Reuters