ISSAQUAH, WA
Costco reported net sales of $7.99 billion during the month of January, a 6% increase from $7.51 billion from the same period last year. Despite reports of weak fuel prices and lower international sales, same-store sales subsequently beat analyst expectations, which predicted same-store sales to rise 3.3%, according to Reuters.
For the twenty-two weeks ended February 2, 2014, Costco’s net sales rose to $46.32 billion, a 6% increase from $43.77 billion during the same period last year, according to the retailer’s latest financial report.
As of 1:02 PM EST on February 6, the company’s shares rose $3.04, or 2.75%, to $113.55. The stock price previously closed at $110.51.
Congratulations on exceeding analyst expectations, Costco! Stay tuned to DeliMarket TV as we continue tracking the financial progress of the grocery retailers in our industry.
