CHICAGO – Costco Wholesale Corp. (COST) on Thursday said worldwide sales rose 10 percent in October at stores open at least a year, helped by strong demand for food and pricey gasoline.
Analysts on average had expected a 7.9 percent increase, according to estimates compiled by Reuters.
The largest U.S. warehouse club operator (search) said net sales rose 12 percent to $4.26 billion in the four weeks ended on Oct. 30.
U.S. same-store sales were up 10 percent. Excluding a 30 percent year-over-year jump in gasoline prices, they rose 8 percent.
International same-store sales rose 9 percent, helped by a strong Canadian dollar. Excluding the foreign currency benefit, the increase was 6 percent.
On a recorded message detailing its sales performance, Costco (search) listed food, deli items, candy, sporting goods, electronics and appliances among its best-selling categories last month.
The retailer said 10 of its Florida (search) stores were closed due to Hurricane Wilma, but all had reopened as of Thursday. In all, Costco said it lost 35 sales days in Florida last week, which trimmed about 45 basis points off same-store sales.