Costco Wholesale Corporation posted a 14% increase in fiscal July net sales to $5.70 billion from $5.02 billion in the same four-week period last year. Comparable store sales at at U.S. stores increased 10% for the period.
Comparable sales for the four-week and forty-eight-week periods ended August 3, 2008, were as follows:4 Weeks 48 Weeks
US 10% 6%
International 11% 15%
Total Company 10% 8%
The U.S. comparable sales figure includes, among other things, the effect of gasoline price inflation, with the average sales price per gallon of gasoline up 41%, as compared to the year-earlier July. Excluding gasoline price inflation, U.S. comparable sales would have been up 6%. In addition, foreign exchange rates, primarily in Canada, positively impacted international comparable sales results. On a local currency basis, international comparable sales increased 9% in July.