ISSAQUAH, Wash. ( TheStreet) -- Costco Wholesale (COST) said same-store sales in its warehouse clubs rose greater than expectations in October, boosted by higher gas prices and strengthening foreign currencies.
Costco said that comparable sales across the company were up 6% in October, with a 4% increase in the U.S. and a 14% jump in international markets. Analysts were expecting a 4.6% rise, according to data collected by Thomson Reuters.
The wholesale retailer said that inflation in gas prices and stronger foreign currencies has a positive impact on same-store sales. Stripping out those effects, Costco said total comparable sales were up 5% in October.
Costco said that net sales for the four-week period in October were $6.3 billion, an increase of 11% from the year-ago period. Excluding sales from the company's Mexico joint venture, the increase from a year ago was 8%.Shares of Costco closed Wednesday at $63.16, just below the stock's 52-week high of $65.46. Other U.S. retailers will report same-store sales data for October throughout Thursday's premarket session. -- Written by Robert Holmes in Boston.
>To contact the writer of this article, click here: Robert Holmes. >To follow Robert Holmes on Twitter, go to http://twitter.com/RobTheStreet. >To submit a news tip, send an email to: firstname.lastname@example.org.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV