WASHINGTON – Costco Same-Store Sales Up 2 Percent
Warehouse retailer Costco Wholesale Corp. (COST) said Wednesday its August same-store sales rose 2 percent primarily on strong international sales.
Same-store sales, or sales at stores open at least a year, is a key indicator of retailer performance since it measures growth at existing stores rather than newly opened ones.
For the month, international same-store sales increased 8 percent while U.S. same-store sales edged up 1 percent.
Total sales for the four-week period ending Sept. 2 climbed 6 percent to $4.84 billion from $4.56 billion in the prior year.
Same-store sales for the fourth quarter grew 5 percent as international same-store sales increased 9 percent and U.S. same-store sales gained 4 percent. Total sales for the quarter rose 3 percent to $20.06 billion from $19.5 billion in the year-ago period.
Fiscal 2007 same-store sales climbed 6 percent, with international same-store sales gaining 9 percent and U.S. same-store sales increasing 5 percent. Total sales for the fiscal year rose 7 percent to $63.06 billion from $58.96 billion.
Costco currently operates 518 warehouses, including 383 in the United States and Puerto Rico, 71 in Canada, 19 in the United Kingdom, five in Korea, four in Taiwan, six in Japan and 30 in Mexico.