Costco Dec. Same-Store Sales Fall 4%

ISSAQUAH, Wash. -- Warehouse club operator Costco(COST Quote) said its same-store sales fell 4% in December, narrowly missing Wall Street's expectations, because of lower gas prices and the negative effect of the stronger U.S. dollar on international sales.

Analysts polled by Thomson Reuters had predicted a 3.7% decline. Costco said same-store sales fell 2% in the U.S. and 11% abroad. However, excluding gas sales, U.S. same-store sales edged up 2% -- better than the 7.8% decline analysts expected. International same-store sales excluding the impact of foreign exchange rose 9%.

Total sales for the five weeks ended Jan. 4 dipped 2% to $7.4 billion. In a recorded statement, Costco said sales of fresh food and consumables were strong, but sales of non-food items remain weak. The company also said severe weather in December dampened results. ...