Costco Wholesale (COST) - Get Report reported a same-store sales increase of 4% for the five-week period ended Feb. 4., beating Wall Street's estimates by 2.1%

Analysts surveyed by

First Call/Thomson Financial

expected the company to report same-store sales increase of 1.9%.

For the period, Costco, which is based in Issaquah, Wash., posted net sales of $2.95 billion for the five weeks ended February 4, 2001, up 10% from $2.68 billion in the year-ago period.

This year's five-week period includes 34 days of sales compared to 35 days during the same period last year. Costco operates discount warehouses that offer nationally branded and private label products.

Shares of Costco were recently off $1.69, or 3.7%, to $43.56 in

Nasdaq

trading.