Costco Wholesale Corporation reported net sales of $6.74 billion for the month of July, the four weeks ended July 31, 2011, an increase of 15 percent from $5.86 billion during the similar period last year.
This year’s four-week period included 27 days in the U.S. (U.S. warehouses closed Independence Day) versus 28 days last year (Independence Day was in the June reporting period). The calendar shift negatively impacted this year’s total and comparable sales by approximately three percent (three-and-a-half percent in the U.S.). Also, this year’s four-week period included sales from the Company’s Mexico joint venture; otherwise the net sales increase would have been 12 percent.
For the forty-eight weeks ended July 31, 2011, the company reported net sales of $80.18 billion, an increase of 14 percent from $70.37 billion during the similar period last year; excluding Mexico sales, the increase would have been 11 percent.
Inflation in gasoline prices and strengthening foreign currencies had a positive impact on comparable sales.