Costco
Written on September 4, 2008
Costco Wholesale Corp. said comparable-store sales increased 9 percent last month compared with a year earlier, but analysts were expecting a bigger jump.
August net sales at Issaquah, Wash.-based Costco (NASDAQ: COST) rose to $5.41 billion from $4.84 billion in August 2007.
But analysts expected same-store sales to increase by double digits or more.
“California continues to lag the company’s overall performance, but with (comparable month sales) a little above the mid-single digit levels (including the benefits of gas inflation), performance has improved in the past couple months in that region,” wrote analyst Dan Geiman of McAdams Wright Ragen of Seattle, in a note to investors instant cash advance. Geiman expected comparable-store sales to increase by 10 percent to 11 percent last month.
Filed in: business.