US: Costco Q1 sales rise 5%
Costco sales rise
Costco booked a 5% increase in group sales for the first-quarter today (5 December), as the group was able to shrug off the impact of gasoline price deflation and foreign exchange headwinds.
Costco said that total sales for the 12 weeks to 24 November invreased to US$24.47bn, up from $23.2bn in the comparable period of last year.
The company revealed that comparable sales rose 3% in the US and 1% at its international operations. However, excluding the impact of FX and lower gas prices US and international sales would have gained 4% and 6% respectively.
Costco has been increasing its rate of store openings and the company plans to open 36 outlets in the US and overseas during this financial year, compared to 26 last year. The group recently announced plans to enter Spain, its eighth international market.
|Costco Wholesale Corporation Reports First Quarter Fiscal Year 2014 and November Sales Results|
ISSAQUAH, WA -- (Marketwired) -- 12/05/13 -- Costco Wholesale Corporation ("Costco" or the "Company")(NASDAQ: COST) today reported net sales of $8.78 billion for the month of November, the four weeks endedDecember 1, 2013, an increase of five percent from $8.40 billion during the similar four-week period last year.
For the twelve-week first quarter ended November 24, 2013, the Company reported net sales of $24.47 billion, an increase of five percent compared to $23.20 billion in the twelve-week first quarter of fiscal year 2013 endedNovember 25, 2012.
For the thirteen weeks ended December 1, 2013, the Company reported net sales of $26.80 billion, an increase of six percent from $25.40 billion during the similar period last year.
Comparable sales for the four, twelve and thirteen-week periods were as follows:
Comparable sales for the four, twelve, and thirteen-week periods, excluding negative impacts from gasoline price deflation and foreign exchange, were as follows:
Original source: Costco
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