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Costco Gets Bump From Same-Store Sales Beat

Maylan Studart

Comparable sales for U.S. stores grew 11% during the quarter, with e-commerce growing 32.3%. Comparable sales excluding changes in gasoline prices, foreign exchange and a previously disclosed accounting change in revenue recognition sent those figures down to 8.3% and 26.2%, respectively. For the fiscal first quarter ended Nov. 25, the company reported net sales of $34.31 billion, an increase of 10.3% from $31.12 billion during the similar period last year, but missed FactSet consensus of $34.52 billion.