Costco Same Store Sales Up 7%, Beating Estimates

Same-store sales at Costco (COST), the largest U.S. warehouse retailer, climbed 7% in January, exceeding analyst estimates of 6.6% same-store sales growth. Net sales increased 11% to $5.11 billion. By region, U.S. same-store sales were up 5% from a year ago, while international same-store sales jumped 19%.

Two caveats: Excluding gasoline price inflation, U.S. comparable sales would have been up 3%. Also, the weak U.S. dollar played a big role in the strong international growth. On a local currency basis, international comparable sales increased 9%.

Most U.S. retailers report same-store sales today; a report earlier this week by the International Council of Shopping Centers predicted flat same-store sales across the industry -- which would make this the worst retail January on record.

Sources: Press release, Bloomberg

Comments

[Richard Shi...:]

Long Costco, short RTH. Why not?

2008 Feb 10 12:59 PM