Key Costco revenue metric misses estimate

ISSAQUAH — Costco’s revenue at stores open at least a year climbed 4 percent in April, but fell just shy of analysts’ expectations.

Analysts polled by Thomson Reuters predicted a 4.5 percent increase.

This figure 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 U.S. stores reported a 4 percent rise in the metric, while those abroad posted a 3 percent gain.

Total revenue for the four weeks ended May 5 rose 7 percent to $7.98 billion.

For the year to date, revenue at stores open at least a year rose 6 percent for the total company as well as for U.S. and overseas locations.

Excluding the impact of gasoline prices and foreign currency exchange rates, the wholesale club operator’s April revenue at stores open at least a year increased 6 percent. The U.S. and stores abroad also reported 6 percent gains for the month. A 6 percent increase in the metric was also reported for the year-to-date for the total company, U.S. and international locations.

Costco plans to report its third-quarter financial results on May 30. The Issaquah company runs 627 warehouses, including 449 in the U.S. and Puerto Rico, 85 in Canada, 33 in Mexico, 24 in the U.K., 15 in Japan, nine in Taiwan, nine in Korea and three in Australia. It plans to open nine additional new warehouses before its fiscal years ends on Sept. 1.

More in Herald Business Journal

Tesla rolls out the design for its 500-mile electric big rig

The truck will have an Autopilot system, which can maintain a set speed and slow down in traffic.

How Airbus’s A380 deal with Emirates evaporated in Dubai

It came down to concern by Emirates that Airbus might shut down the jumbo program.

Trader Joe’s recalls packaged salads over contamination fear

Turkey cranberry salads sold in Idaho, Oregon or Washington are at risk.

Equipment rental and sales business H&E opens Mukilteo shop

Company hopes to capitalize on construction occuring in northwest Washington.

New Chick-fil-A draws dozens of campers in Bothell

A second restaurant of the popular chain is opening on Thursday.

Tulalip Resort Casino to feature locally grown hazelnuts

The resort wanted to put a focus on meals created with the nut.

Alderwood Water general manager named president of state association

Alderwood Water & Wastewater District General Manager Jeff Clarke has been installed… Continue reading

Boeing earns top marks for LGBTQ workplace policies

Boeing was one of 609 businesses nationwide to earn a 100-point score… Continue reading

Aerospace workers adjust to changing industry

The number of Boeing workers dropped almost 10 percent since last year

Most Read