Costco Wholesale July Comparable Sales Down 2%

(RTTNews) - Costco Wholesale Corp. (COST) reported that its total comparable sales for the month of July 2016 declined 2 percent, with a 3 percent decrease in U.S., a 3 percent rise in Canada, and Other International comparable sales decreased 2 percent.

Monthly total Comparable sales, excluding the negative impacts from gasoline price deflation and foreign exchange, were up 1 percent, with flat in U.S., a 6 percent increase in Canada, and 2 percent rise in Other International comparable sales.

Due to the timing of the Independence Day holiday, this year's July results included one less sales day in the U.S. than last year. This shift negatively impacted total Company sales by an estimated 2.5% (3.5% in the U.S.).

Net sales were $8.65 billion for the month of July, the four weeks ended July 31, 2016, compared to $8.64 billion during the similar period last year.