Costco key revenue metric up 6% in September

ISSAQUAH — Costco Wholesale’s revenue at stores open at least a year rose 6 percent in September, beating Wall Street’s view.

Analysts surveyed by Thomson Reuters expected a 5.7 percent increase in the figure.

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

Costco Wholesale Corp. said Thursday that the metric climbed 6 percent at its U.S. locations and increased 7 percent at wholesale clubs overseas.

Stripping out the impact of higher gas prices and foreign currency exchange rates, revenue at stores open at least a year rose 5 percent for the total company and for U.S. locations. The figure climbed 6 percent internationally.

For the five weeks ended Sept. 30, total revenue climbed 8 percent to $9.31 billion.

Costco says fourth-quarter revenue at stores open at least a year gained 5 percent. U.S. locations reported a 6 percent rise with locations abroad posted a 2 percent increase.

Removing the impact of higher gas prices and foreign currency exchange rates, the metric rose 6 percent for the total company and for U.S. locations. It climbed 7 percent overseas.

Total revenue for the fourth quarter increased 14 percent to $31.52 billion.

For the full year, revenue at stores open at least a year climbed 7 percent for the total company and for U.S. wholesale clubs. It increased 6 percent internationally.

Stripping out the impact of higher gas prices and foreign currency exchange rates, the metric rose 6 percent for the total company and for U.S. wholesale clubs. It climbed 8 percent abroad.

Total revenue for the full-year rose 12 percent to $97.06 billion.

Costco says it plans to report its fourth-quarter and full-year financial results on Oct. 10.

The Issaquah company currently runs 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. It plans to open up to 14 new warehouses before the year ends.

Its shares have traded in a range of $78.41 to $103.51 over the past year.

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