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Costco April same-store sales top analysts' estimates

AP ONLINE

Posted: 2008-05-08 07:04:10

ISSAQUAH, Wash. (AP) _ Warehouse club operator Costco Wholesale Corp. said Thursday its April same-store sales increased 8 percent to beat analysts' expectations.

Analysts polled by Thomson Financial predicted a same-store sales rise of 6.1 percent.

Same-store sales, or sales at stores open at least a year, is a key indicator of retailer performance since it measures growth at existing stores rather than newly opened ones.

Excluding gas price inflation, same-store sales would have climbed 5 percent, the company said.

Total sales for the period ended May 4 grew 12 percent to $5.54 billion from $4.94 billion.

For the year to date, same-store sales are up 8 percent, while total sales are ahead 12 percent to $46.88 billion from $41.9 billion.

The company plans to report its fiscal third-quarter financial results on May 29.

Costco currently runs 536 warehouses, including 392 in the United States and Puerto Rico, 75 in Canada, 19 in the United Kingdom, six in Korea, five in Taiwan, eight in Japan and 31 in Mexico.