Costco Oct. key revenue metric beats Street's view

AP News
Posted: Nov 07, 2013 6:49 AM

ISSAQUAH, Wash. (AP) — Costco's sales at stores open at least a year rose 3 percent in October, beating Wall Street's expectations.

Analysts surveyed by Thomson Reuters predicted a 2.6 percent increase for the wholesale club operator.

This figure is a key gauge of a retailer's health because it excludes results from locations recently opened or closed.

In the U.S., the metric climbed 4 percent. It rose 3 percent overseas.

Excluding the impact of lower gas prices and foreign currency fluctuation, sales at stores open at least a year increased 6 percent. It climbed 5 percent in the U.S. and rose 7 percent internationally.

Costco Wholesale Corp., which is based in Issaquah, Wash., said Thursday that total revenue for the four weeks ended Nov. 3 climbed 6 percent to $8.15 billion.