Costco April same-store sales narrowly miss Street view

By IBTimes Staff Reporter | May 06 2010 10:40 AM

Costco Wholesale Corp on Thursday reported a 11 percent rise in April sales at stores open at least a year, but the results narrowly missed Wall Street expectations.

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Analysts on average were expecting the largest U.S. warehouse club operator's same-store sales to rise 11.2 percent, according to Thomson Reuters data.

Same-store sales at U.S. locations increased 6 percent, while international sales rose 29 percent.

Excluding the impact of gasoline price increase and strong foreign currencies, comparable sales for April rose 4 percent.

Issaquah, Washington-based Costco said net sales for the four weeks ended May 2 rose 13 percent to $5.83 billion.

Shares of the company closed at $60.36 Wednesday on Nasdaq.

(Reporting by Anuradha Ramanathan in Bangalore; Editing by Vinu Pilakkott)

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