Costco key March sales metric tops Street's view

Published on NewsOK Modified: April 10, 2014 at 5:47 am •  Published: April 10, 2014
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ISSAQUAH, Wash. (AP) — Costco's sales at stores open at least a year rose 5 percent in March, beating Wall Street's forecast.

Analysts polled by Thomson Reuters expected a 3.5 percent increase. Its shares rose in early premarket trading.

This figure is a key indicator of a retailer's health. It excludes results from stores recently opened or closed.

In the U.S., the metric climbed 6 percent for the five weeks ended April 6. It gained 4 percent overseas.

Costco said that the five-week period included one extra day compared with the year-ago period due to the timing of Easter.

Removing lower gas prices and foreign currency fluctuation, sales at stores open at least a year increased 7 percent. The figured climbed 6 percent in the U.S. and rose 9 percent internationally.

Total monthly revenue climbed 8 percent to $10.43 billion.

Costco Wholesale Corp. said Thursday that year-to-date sales at stores open at least a year increased 3 percent. The metric rose 4 percent in the U.S. and edged up 1 percent abroad.

Excluding lower gas prices and foreign currency fluctuation, sales at stores open at least a year climbed 5 percent. The figure also climbed 5 percent in the U.S. Internationally, the metric rose 7 percent.

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