Costco to open nine stores by end of 2014

Costco said it plans to open nine new warehouse stores before the end of calendar year 2014, following a boost in net sales for August and the fourth quarter.



During the month of August, net sales were $8.8 billion, an increase of 10% from $8 billion during the similar period last year. Same-store sales in the United States increased 7%.



For the 16-week fourth quarter, the company reported net sales of $34.8 billion, an increase of 9% from $31.8 billion in the year-ago period. Same-store sales in the United States increased 6%.



For the 52-week fiscal year ended Aug. 31, Costco reported net sales of $110.2 billion, an increase of 7% compared with the year-ago period. U.S. same-store sales rose 5%.