Costco Wholesale September Comps Flat, Sales Rise 2%

(RTTNews) - Membership warehouses operator Costco Wholesale Corp. (COST) on Wednesday reported a 2 percent increase in net sales for the month of September from the same period last year.

However, comparable sales for the month was flat, while it grew 8 percent after excluding the negative impacts from gasoline price deflation and foreign exchange.

The Issaquah, Washington-based company reported net sales of $10.75 billion for the five weeks ended October 4, 2015, up 2 percent from $10.57 billion in the same month last year.

Total company comparable sales for the month of September was flat, reflecting a 3 percent increase in the U.S. comparable sales, offset by a 10 percent decline in Canada and a 6 percent decrease in other international comparable sales.

Excluding the negative impacts from gasoline price deflation and foreign exchange, total company comparable sales for the month rose 8 percent, with 8 percent growth in the U.S., 11 percent increase in Canada and 8 percent increase in the other international business.

Costco currently operates 687 warehouses, including 481 in the U.S. and Puerto Rico, 89 in Canada, 36 in Mexico, 27 in the U.K., 23 in Japan, 12 in Korea, 11 in Taiwan, seven in Australia and one in Spain.

The company plans to open up to an additional 12 new warehouses, including one relocation, prior to the end of calendar year 2015.

COST closed Wednesday's trading at $147.96, down $0.45 or 0.30 percent on a volume of 2.34 million shares.