News

Costco Oct. sales at stores open at least a year rises 3 pct., beat analysts' expectations

ISSAQUAH, Wash. – Costco’s sales at stores open at least a year rose 3 per cent in October, beating Wall Street’s expectations.

Analysts surveyed by Thomson Reuters predicted a 2.6 per cent increase for the wholesale club operator.

This figure is a key gauge of a retailer’s health because it excludes results from locations recently opened or closed.

In the U.S., the metric climbed 4 per cent. It rose 3 per cent overseas.

Excluding the impact of lower gas prices and foreign currency fluctuation, sales at stores open at least a year increased 6 per cent. It climbed 5 per cent in the U.S. and rose 7 per cent internationally.

Costco Wholesale Corp., which is based in Issaquah, Wash., said Thursday that total revenue for the four weeks ended Nov. 3 climbed 6 per cent to $8.15 billion.