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Costco blames sales drop on lower gas prices
Costco Wholesale Corp. reported its first quarterly decline in same store sales since 2009, although profit at the club store did rise.
Same store sales declined 1% in the third quarter ended May 10, including fuel and foreign currency impacts. This was below the 0.7% growth expected by analysts. The company said sales were hurt by low gas prices and a stronger dollar that reduced the value of sales from overseas markets.

