Costco’s Key Revenue Figure Tops Analysts Expectations
ISSAQUAH, Wash. (AP) — Issaquah based Costco’s revenue at stores open at least a year rose 7 percent in October, topping analysts’ expectations.
Analysts polled by Thomson Reuters predicted a 6.6 percent increase.
This figure is a key gauge of a retailer’s health because it excludes results from stores recently opened or closed.
Costco Wholesale Corp. said Thursday that the metric climbed 7 percent in the U.S. and 9 percent abroad.
Total revenue for the four weeks ended Oct. 28 rose 9 percent to $7.67 billion.
Removing the impact of higher gas prices and stronger foreign currencies, revenue at stores open at least a year gained 5 percent. The figure also increased by 5 percent in the U.S. and overseas.
For the quarter to date, revenue at stores open at least a year climbed 7 percent. In the U.S, the metric rose 6 percent and internationally it increased 8 percent.
Total revenue rose 9 percent to $16.98 billion.
Excluding higher gas prices and stronger foreign currencies, revenue at stores open at least a year climbed 5 percent. It also rose 5 percent in the U.S. and gained 6 percent overseas.
Earlier this month the Issaquah, WA based Costco reported that its fourth-quarter net income and revenue climbed and its results topped Wall Street’s view.
Costco currently runs 612 warehouses, including 442 in the U.S. and Puerto Rico, 83 in Canada, 32 in Mexico, 22 in the U.K., 13 in Japan, nine in Taiwan, eight in Korea and three in Australia.
– Copyright 2012 The Associated Press.