Costco: Higher Sales Figured for August

CostcoCostco Wholesale pleased investors with a 7% gain in same-store sales during August.

A year ago that measure — used to gauge a chain’s ability to grow lucratively — was negative 2%.

Costco’s same-store sales started the year strong but fell to 4% in June, sparking worries that it would slip back into recession mode or lose popularity with shoppers.

The 7% gain was a welcome surprise and sent Costco’s shares up 80 cents to $58.59.

Net sales for August were $5.9 billion, up from $5.4 billion a year ago.

For its fiscal year ended Aug. 29, Costco’s net sales were $76.3 billion, up 9% from $69.9 billion a year earlier.

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