Same store sales up 1% at Costco in September

10/6/2016

ISSAQUAH, Wash. -- Costco’s same-store sales for September rose 1%, compared to a 2% increase in August. 


The club retailer also reported net sales of $11.06 billion for the five weeks ended Oct. 2, an increase of 3% from $10.75 billion during the similar period last year.



Comparable sales for this period excluding the impacts from gasoline price deflation and foreign exchange were: U.S.  0 %, Canada  5 %, Other International  0 % and Total Company  1 %.


Last month Costco reported a higher-than-expected profit for the fourth quarter ended Aug. 28 as it benefited from paying lower fees to credit card partner Visa and shoppers spent more on appliances, electronics and hardware, the company said.


The lower payments helped offset falling prices of grocery and fresh food in the quarter, Chief Financial Officer Richard Galanti said in a post-earnings call.


Net income rose to $779 million, or $1.77 per share, in the fourth quarter ended Aug. 28, from $767 million, or $1.73 per share, a year earlier. Same store sales in the U.S. were down 1%.


X
This ad will auto-close in 10 seconds