Costco January same-store sales top estimates

(BestGrowthStock) – Costco Wholesale Corp reported a better-than-expected 8 percent increase in January same-store sales, helped by a weak dollar and higher gasoline prices.

Analysts, on average, were expecting a rise 7.8 percent in January 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 4 percent, while its international division sales surged 25 percent, the company said.

January net sales rose 10 percent to $5.62 billion.

Excluding the impact of gasoline prices and foreign exchange, the company said U.S. comparable sales were flat, while on a local currency basis, international same-store sales rose 9 percent.

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(Reporting by Sakthi Prasad in Bangalore; Editing by Maju Samuel)

Costco January same-store sales top estimates