Costco Wholesale May Comps. Flat; Net Sales Rise 3%

(RTTNews) - Costco Wholesale Corp. (COST) reported that total comparable sales for the month of May 2016 were flat, with an 1 percent increase in U.S., a1 percent decline rise in Canada, and Other International comparable sales decreased 3 percent.

Monthly total Comparable sales, excluding the negative impacts from gasoline price deflation and foreign exchange, were up 4 percent, with a 4 percent rise in U.S., a 6 percent increase in Canada, and 3 percent rise in Other International comparable sales.

Net sales were $9.23 billion for the month of May, the four weeks ended May 29, 2016, an increase of three percent from $8.98 billion during the similar period last year. This year May includes one additional sales day in the U.S. versus last year due to the timing of Memorial Day. This calendar shift positively impacted this year's net and comparable sales by an estimated two and one-half percent (three and one-half percent in the U.S.).

For the thirty-nine weeks ended May 29, 2016, the Company reported net sales of $87.18 billion, an increase of two percent from $85.31 billion during the similar period last year.