Costco Same-Store Sales Exceed Analyst Expectations for March


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Wed. April 9th, 2014 - by Jordan Okumura-Wright

<p> Costco reported net sales of <B>$10.43 billion</b> for the month of March, an 8% increase from $9.67 billion during the same period last year. Same-store sales increased 5% thanks to an extra day in the period and a shift in timing of Easter, according to Reuters. The sales outperformed analyst expectations, who predicted a 3.5% rise in same-store sales.<hr class="legacyRuler"><hr class="legacyRuler"><hr class="invisible minimal-padding"> “This calendar shift positively impacted this year’s net and comparable sales by an estimated one to one and one-half percent,” said Costco.<hr class="legacyRuler"><hr class="legacyRuler"><hr class="invisible minimal-padding"> For the thirty-one weeks ended April 6, 2014, Costco’s net sales have continued to rise to $64.65 billion, a 6% increase from $61.02 billion from the same period last year.<hr class="legacyRuler"><hr class="legacyRuler"><hr class="invisible minimal-padding"> In after-hours trading on April 10, the company’s shares fell $0.97, or 0.86%, to $112.08. In general, a majority of stocks were down due to investors dumping technology and biotechnology stocks, according to CNN. Will the market rally back after this interesting day of trading?<hr class="legacyRuler"><hr class="legacyRuler"><hr class="invisible minimal-padding"> Congratulations on continuing to exceed analyst expectations, Costco. Stay tuned to AndNowUKnow as we continue tracking the financial progress of the grocery retailers 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></p><hr class="legacyRuler"><hr class="invisible minimal-padding">