Costco Same-Store Sales Dip But Top Views

The warehouse retailer said same-store sales in August fell 2%, narrower than the expectation of analysts.
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ISSAQUAH, Wash. (

TheStreet

) -- Same-store sales at warehouse retailer

Costco

(COST) - Get Report

fell 2% in August, while net sales for the month were $5.4 billion, flat with a year earlier.

Analysts polled by Thomson Reuters expected a decline of 5.7% in August same-store sales.

U.S. same-store sales fell 4% in August, while international sales rose 3%, Costco said in a statement Thursday.

Same-store sales rose 2% in August when lower gas prices and foreign exchange are excluded. Sales in the U.S. were flat on this basis, and rose 7% internationally, Costco said.

Fourth-quarter same-store sales fell 5%, while total sales fell 3% to $21.9 billion. Same-store sales were down 6% in the U.S. and down 3% internationally in the quarter.

Costco ended the fiscal year on Aug. 30 with 559 warehouses. It plans to openseven to eight new warehouses, including the relocation of one to two warehouses, in the first four months of fiscal 2010.

-- Reported by Joseph Woelfel in New York

.

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