February 6, 2014 / 8:43 AM / 4 years ago

Costco January same-store sales beat expectations

Feb 6 (Reuters) - Costco Wholesale Corp’s January same-store sales beat market expectations, even as the warehouse club retailer recorded weak fuel prices and lower international sales in dollar terms.

Sales at stores open at least a year rose 4 percent in the four weeks ended Feb. 2, including the negative impact of gasoline sales and foreign currency.

On that basis, analysts expected same-store sales to rise 3.3 percent for the month of January, according to a Thomson Reuters poll.

January net sales grew 6 percent to $7.99 billion.

Excluding the negative impact of foreign exchange and falling gasoline prices, same-store sales rose 6 percent.

Costco, which competes with BJ’s Wholesale Club Inc and Wal-Mart Stores Inc’s Sam’s Club, offers everyday items like bananas below supermarket prices, hoping customers will buy other goods as well. It usually prices gasoline lower than competing stations.

Besides 649 warehouses, Costco also operates online stores in the United States, Canada, UK and Mexico.

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