Costco Same-Store Sales Rise 9% in August

Issaquah, Wash. Costco Wholesale Corp. said Wednesday its same-store sales rose 9% in August as higher gas prices boosted sales. The company said same-store sales in the United States rose 9% and jumped 6% overseas during the month.

Costco said the results include the effect of gas-price inflation. The average sales price per gallon was up 40% from the same period a year earlier, the company said. Excluding the effect of higher gas prices, U.S. same-store sales rose 6%.

Total sales for the month climbed 12% to $5.41 billion from $4.84 billion in the year-ago period.

For the fiscal fourth quarter ended Aug. 31, same-store sales rose 9% overall while total sales climbed 12% to $22.6 billion from $20.09 billion.

For the year, same-store sales rose 8% companywide and total sales jumped 12% to $70.95 billion from $63.09 billion in 2007.

Costco plans to report its fourth-quarter and fiscal 2008 financial results on Oct. 8.