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Costco Q4 sales climb 9%; will open nine stores by year-end
Issaquah, Wash. – Costco Wholesale Corp. on Thursday reported that its revenue for the fourth-quarter climbed 9% to $34.8 billion. Total same-store sales, excluding negative impacts from gasoline price deflation and foreign exchange, increased 7%.
Costco plans to open nine new warehouse stores before the end of calendar year 2014.
During the full fiscal year 2014, Costco reported a 7% jump in net sales to $110.2 million from $102.9 million. Total same-store sales rose 6%.
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Costco and L Brands shine in August; Gap disappoints
New York -- Costco Wholesale Corp. and L Brands Inc. were among the retailers that posted stronger-than-expected sales in August, fueled in many cases by back-to-school promotions.
Costco led the pack, reporting a 7% gain in August total same-store sales, ahead of views for a 4.9% gain. U.S. same-store sales, excluding the negative impacts from gasoline price deflation and foreign exchange, rose 7% as well. Top-performing categories at Costco included housewares, small appliances, apparel, fresh foods and food sundries.
