Costco March Sales Grow But Miss Street

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

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.