Costco same-store sales fall 6 percent
Costco Wholesale Corp on Thursday reported a 6 percent fall in sales at stores open at least a year in June, in line with market expectation.
Analysts, on average, were expecting its same-store sales to fall 6 percent, according to Thomson Reuters data.
Same-store sales at its U.S. locations decreased 6 percent, while international division sales fell 6 percent.
Excluding the negative impacts from gasoline price deflation, it said U.S. comparable sales would have been down 1 percent, while on a local currency basis it said international same-store sales increased 8 percent.
Customers pay an annual fee to shop at Costco's warehouses, which sell everything from laptop computers and bulk-sized packages of toilet paper to fresh fruit and frozen dumplings. Many of the clubs also operate gas stations.
Costco, the largest U.S. warehouse club, said total sales, in the five weeks ended July 5, fell four percent to $6.88 billion.
(Reporting by Hezron Selvi in Bangalore; Editing by David Cowell)
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