Costco March Sales Grow But Miss Street

By Retail FOXBusiness

Costco’s (COST) key revenue gauge climbed in March but fell short of Wall Street expectations, as weak foreign currencies offset higher gas prices.   

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Comparable sales, or those at stores open longer than a year, were up 6% in the U.S. and 7% in international markets.

In total, those sales grew 6%, below average analyst estimates of 6.7%, according to a Thomson Reuters poll.

The Washington state-based operator of wholesale warehouses reported sales of $9.13 billion for the five weeks ended April 1 compared with $8.33 billion in the year-earlier period.

Revenue year-to-date is up 11% to $56.34 billion.

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