Costco 2013 October Same-Store Sales are Reported to Beat Estimates


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Thu. November 7th, 2013 - by Jordan Okumura-Wright

<p>Costco Wholesale Corporation has reported its October financials for 2013. The company revealed that net sales increased 6% from $7.66 billion during the similar four-week period last year to $8.15 billion for the month of October. The reporting period covers the four weeks ending November 3, 2013. For the nine weeks ended November 3, 2013, Costco reported net sales increased 6% from $17.00 billion to $18.01 billion.<hr class="legacyRuler"><hr class="legacyRuler"><hr class="invisible minimal-padding">According to Reuters and Thomson Reuters data, Costco achieved better-than-expected October same-store sales. <b> Analysts expected same-store sales to rise 2.6 percent for the month of October. Excluding the negative impact of foreign exchange and falling gasoline prices, Costco said its same-store sales rose 6 percent.</b> October net sales rose 6 percent to $8.15 billion.<hr class="legacyRuler"><hr class="legacyRuler"><hr class="invisible minimal-padding">Costco offers everyday items like bananas below supermarket prices, hoping customers will buy other goods as well, the report states. Currently, Costco operates 642 stores globally and plans to open up to seven additional warehouses prior to the end of calendar year 2013.</p><hr class="legacyRuler"><hr class="invisible minimal-padding"><p>Stay tuned to AndNowUKnow as we follow the financial stories in our industry.<hr class="legacyRuler"><hr class="legacyRuler"><hr class="invisible minimal-padding"><a class="btn btn-sm btn-primary col-lg-12" style="white-space: normal;" href=" http://phx.corporate-ir.net/phoenix.zhtml?c=83830&amp;p=irol-irhome" target="_new"> Costco </a><hr class="legacyRuler"><hr class="legacyRuler"><hr class="invisible minimal-padding"><a class="btn btn-sm btn-primary col-lg-12" style="white-space: normal;" href=" http://www.reuters.com/article/2013/11/07/us-costco-results-idUSBRE9A60C220131107" target="_new"> Reuters </a></p><hr class="legacyRuler"><hr class="invisible minimal-padding">