Costco Wholesale Corp. (COST)   said same-store sales in its fiscal first quarter rose 8.8%, beating analysts' consensus of 6.5%.

Comparable sales for U.S. stores grew 11% during the quarter, with e-commerce growing 32.3%. Comparable sales excluding changes in gasoline prices, foreign exchange and a previously disclosed accounting change in revenue recognition sent those figures down to 8.3% and 26.2%, respectively.

The warehouse club operator released sales figures ahead of the release of fiscal first-quarter results on Dec. 13.

For the fiscal first quarter ended Nov. 25, the company reported net sales of $34.31 billion, an increase of 10.3% from $31.12 billion during the similar period last year, but missed FactSet consensus of $34.52 billion.

The company said net sales for November were $12.77 billion, a 9.8% increase from $11.63 billion last year.

Same-store sales are a closely watched indicator for investors as they try to gauge the future performance of a company. Given recent macroeconomic changes in tariffs, new corporate tax laws and record consumer sentiment, Costco's comparable sales growth is a positive leading into earnings next week.

Costco beat consensus earnings estimates in the last two quarters. In the most recent quarter, Costco announced an earnings beat of 2 cents a share above estimates, reporting earnings of $2.36 a share. In the previous quarter, it also beat consensus by 2 cents, announcing earnings of $1.70 a share.

TheStreet previously reported Costco one of the best names of 2018 in its Trifecta Stocks report, a new stock selection service. Costco stock has risen more than 20% year-to-date even after losing more than 4% in the volatile previous three months.

Consensus has Costco a "buy" and is expecting EPS growth of $1.62 a share for the fiscal fist quarter endedin November, a year-over-year change of over 19.1%, according to Zacks Consensus Estimate.

Costco shares rose 2.8% on Thursday.

More from Investing

Stocks Hold Gains on US-China Trade Optimism, Strong Start to Q4 Earnings Season

Stocks Hold Gains on US-China Trade Optimism, Strong Start to Q4 Earnings Season

Netflix Slides Despite Solid Q4 Additions as Cash Burn Questions Linger

Netflix Slides Despite Solid Q4 Additions as Cash Burn Questions Linger

Oil Prices Rise as OPEC Reports Biggest Monthly Output Decline in Two Years

Oil Prices Rise as OPEC Reports Biggest Monthly Output Decline in Two Years

Jim Cramer's Take on Netflix Earnings (and the Other FAANG Stocks)

Jim Cramer's Take on Netflix Earnings (and the Other FAANG Stocks)

Apple, Johnson & Johnson Team Up for Healthcare Project Involving Apple Watch

Apple, Johnson & Johnson Team Up for Healthcare Project Involving Apple Watch