Costco key revenue metric up 6% in August

Associated Press

ISSAQUAH — Costco Wholesale Corp.’s revenue from stores open at least a year climbed 6 percent, beating Wall Street’s expectations for the warehouse-club retailer.

Analysts surveyed by Thomson Reuters anticipated a 4.5 percent rise in the figure. Costco’s stock rose 15 cents to $97.26 in premarket trading.

Revenue at stores open at least a year is a key indicator of a retailer’s health because it excludes results from stores recently opened or closed.

At its U.S. locations open at least a year, the metric climbed 7 percent. It rose 4 percent overseas. Excluding the impact of higher gas prices and the stronger dollar, both the U.S. and international figures increased 6 percent.

Costco’s total revenue for the four weeks ended Aug. 26 rose 8 percent to $7.4 billion.

For the first 52 weeks of fiscal 2012, revenue at stores open at least a year climbed 7 percent, with U.S. stores rising by the same percentage. Abroad, the metric climbed 6 percent.

Stripping out increased gas prices and the stronger dollar, Costco’s revenue at stores open at least a year increased 6 percent. U.S. stores climbed by the same percent and those overseas increased 9 percent.

Total revenue for the first 52 weeks of 2012 climbed 9 percent to $95.12 billion.

Costco’s fiscal 2012 is 53 weeks long, ending Sept. 2. Fiscal 2011 had 52 weeks.

Costco said it is opening new warehouses in Taiwan and Korea this week. The Issaquah, Wash., company said it will end fiscal 2012 with 608 warehouses, including 439 in the U.S. and Puerto Rico, 82 in Canada, 32 in Mexico, 22 in the U.K., 13 in Japan, nine in Taiwan, eight in Korea and three in Australia.