Costco Same-Store Sales Rose Significantly in Fiscal 2015
September 02 2015 - 11:40PM
Dow Jones News
Costco Wholesale Corp. said Wednesday that sales in stores open
at least a year grew significantly during fiscal 2015, adding to a
string of strong sales figures for the warehouse retailer at a time
when competitors are reporting mixed results.
Costco's same-store sales rose 7% for the fiscal year ended Aug.
30, excluding the negative effects of gasoline sales and currency
fluctuations. Including these, Costco's sales rose just 1% for the
year.
Costco is particularly exposed to gas and currency fluctuations.
It is one of the largest sellers of gasoline in the U.S. and plans
to add more pumps to stores because inexpensive gas drives
membership and traffic growth. The Issaquah, Wash.-based retailer
is also building new stores outside of the U.S. more rapidly than
inside the U.S..
Unlike traditional retailers, Costco's primary source of profit
is new membership fees, not sales. Still, it is growing sales much
faster than some competitors. Wal-Mart Stores Inc. reported a 1.5%
increase in existing-stores sales excluding gasoline during the
most recent quarter.
Costco total sales for the fiscal year hit $113.7 billion, up
from $110.2 billion the previous year, making it the No. 2 U.S.
retailer by revenue after Wal-Mart.
One of the few retailers still reporting monthly sales figures,
Costco said Wednesday that August sales rose 5%, excluding gas and
currency loses. In August total sales fell to $8.7 billion, down
from $8.8 billion a year earlier.
Costco reports full-year earnings on Sept. 29th.
Write to Sarah Nassauer at sarah.nassauer@wsj.com
Subscribe to WSJ: http://online.wsj.com?mod=djnwires
(END) Dow Jones Newswires
September 02, 2015 23:25 ET (03:25 GMT)
Copyright (c) 2015 Dow Jones & Company, Inc.
Walmart (NYSE:WMT)
Historical Stock Chart
From Aug 2024 to Sep 2024
Walmart (NYSE:WMT)
Historical Stock Chart
From Sep 2023 to Sep 2024