Skip to main content
Advertising

Originally published April 10, 2014 at 6:34 AM | Page modified April 10, 2014 at 12:48 PM

  • Share:
           
  • Comments (0)
  • Print

Costco key March sales metric tops Street's view

Costco's sales at stores open at least a year rose 5 percent in March, beating Wall Street's forecast.


advertising

ISSAQUAH, Wash. —

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.

Total revenue increased 6 percent to $64.65 billion.

Costco, based in Issaquah, Wash., currently runs 650 warehouses, including 462 in the U.S. and Puerto Rico, 87 in Canada, 33 in Mexico, 25 in the U.K., 19 in Japan, 10 in Taiwan, 9 in Korea and five in Australia. Last month the company reported that its fiscal second-quarter profit missed analysts' estimates due to softer sales of some non-food items, weaker gross margins in its fresh foods business and the impact of weaker foreign currency exchange rates on its international results. The year-ago period was also helped by a tax benefit.

Costco shares rose $1.60, or 1.4 percent, to $114.65 in premarket trading about three hours ahead of the market opening.



Want unlimited access to seattletimes.com? Subscribe now!

News where, when and how you want it

Email Icon

Want free career advice? And an iPad Mini?

Want free career advice? And an iPad Mini?

Tell us about your goals and challenges and be considered for a future NWjobs career-makeover story, as well as a chance to win an iPad Mini!

Advertising

Advertising


Advertising
The Seattle Times

The door is closed, but it's not locked.

Take a minute to subscribe and continue to enjoy The Seattle Times for as little as 99 cents a week.

Subscription options ►

Already a subscriber?

We've got good news for you. Unlimited seattletimes.com content access is included with most subscriptions.

Subscriber login ►
The Seattle Times

To keep reading, you need a subscription upgrade.

We hope you have enjoyed your complimentary access. For unlimited seattletimes.com access, please upgrade your digital subscription.

Call customer service at 1.800.542.0820 for assistance with your upgrade or questions about your subscriber status.

The Seattle Times

To keep reading, you need a subscription.

We hope you have enjoyed your complimentary access. Subscribe now for unlimited access!

Subscription options ►

Already a subscriber?

We've got good news for you. Unlimited seattletimes.com content access is included with most subscriptions.

Activate Subscriber Account ►