COSTCO SAME-STORE SALES SUFFER IN AUGUST
Costco said today that total same-store sales for the four weeks ending Sept. 2 rose 1% in the US and 8% internationally. For the 52-week period, US same-store sales grew 5%. August comps were helped by strengthened international currencies, the company said, but were hurt by gas deflation, lower tobacco sales and declines in store traffic.
Overall, Costco saw a slowdown in California and the Southwest, as compared to stronger growth in markets such as the Northeast and Mid-West.
"We do believe that the extreme high temperatures in California impacted our traffic counts negatively in August and hopefully that will bounce back as we move forward," the company said on a recorded call.
Net sales in August rose 6% to $4.84 billion from $4.56 billion a year ago.
Overall, Costco saw a slowdown in California and the Southwest, as compared to stronger growth in markets such as the Northeast and Mid-West.
"We do believe that the extreme high temperatures in California impacted our traffic counts negatively in August and hopefully that will bounce back as we move forward," the company said on a recorded call.
Net sales in August rose 6% to $4.84 billion from $4.56 billion a year ago.
posted at 1:27 PM
<< Home