ISSAQUAH — Costco Wholesale Corp. said Thursday that sales at stores open at least a year rose 10 percent in March, buoyed by strong growth overseas.
Analysts polled by Thomson Reuters predicted a slightly smaller increase of 9.3 percent.
This figure is a key indicator of retailer performance since it measures growth at existing stores rather than newly opened ones.
The warehouse club operator said its international sales at store open at least a year grew 28 percent, with U.S. results up 5 percent.
Removing higher gasoline prices and a weaker dollar, sales at stores open at least a year increased 3 percent in March with overseas up 7 percent and U.S. results up 2 percent.
Total monthly sales climbed 12 percent to $7.14 billion.
One less sales day compared with the prior-year period — and a shift in the Easter holiday — pulled both total and same-store sales for March down by about 1 percent to 2 percent.
For the 31 weeks ended April 4, sales at stores open at least a year rose 7 percent. International results grew 21 percent, while U.S. same-store sales climbed 3 percent.
Excluding higher gasoline prices and a weaker dollar, combined same-store sales rose 3 percent. Overseas growth was 8 percent at sales at stores open at least a year, while the U.S. rise was 2 percent.
Total sales for the period increased 9 percent to $45.2 billion.
Costco currently run 567 warehouses, including 414 in the U.S. and Puerto Rico, 77 in Canada, 21 in the U.K., seven in Korea, six in Taiwan, nine in Japan, one in Australia and 32 in Mexico.
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