Costco rebounds from a weak June

Things really aren't as bad as they seemed a few weeks ago for Costco, which just reported a sizable increase in same store sales for July.



Last month the retailer said that U.S. sales had risen by only 3% hindered by gas deflation. Now the company has reported $8.64 billion in net sales for the month of July — an increase of about 1% over the same period last year.The company also announced that for the 48 weeks ended Aug. 2, its net sales of 105.95 billion were up 3% over the same period last year.



Same store sales in Costco’s U.S. locations excluding gas were up 6% in U.S. stores for the four-week period, up 7% in the U.S. for the 48-week period and up 7% internationally for the month and year.



The areas with the best-performing stores were in Los Angeles, San Diego and the Midwest region.