BUSINESS NEWS

Costco same-store sales top estimates

Posted 2009/11/05 at 3:42 am EST

Nov. 5, 2009 (Reuters) — Costco Wholesale Corp reported a 5 percent increase in October same-store sales, helped by a weak U.S. dollar that helped push up international sales.

Stacks of shopping carts are lined up waiting for customers outside a Costco store in Carlsbad, California in this October 5, 2009 file photo. REUTERS/Mike Blake

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Analysts on average were expecting a rise of 4.7 percent in same-store sales, including the impact of fuel prices and foreign exchange, according to Thomson Reuters data.

Same-store sales at U.S. locations rose 2 percent, while international division sales surged 17 percent, the company said.

October net sales rose 7 percent to $5.68 billion.

Excluding the impact of gasoline prices and foreign exchange, the company said U.S. comparable sales rose 3 percent, while on a local currency basis international same-store sales rose 7 percent.

(Reporting by Sakthi Prasad in Bangalore; Editing by Mike Miller)

Copyright Reuters 2008. See Restrictions for more details.

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