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Costco Wholesale Corp., the biggest U.S. warehouse club, said October comparable-store sales climbed as a weaker dollar boosted international revenue.
Sales at locations open at least a year rose 5 percent, including a 17 percent increase at international outlets, Issaquah, Washington-based Costco said today in a statement. Net sales in the four weeks ended Nov. 1 gained 7.2 percent to $5.7 billion from $5.3 billion in the same period a year ago.
Nineteen analysts surveyed by Retail Metrics in Swampscott, Massachusetts, estimated, on average, a gain of 4.2 percent in same-store sales.
The greenback was 10 percent lower on average against the Canadian dollar and the Japanese yen last month compared with October 2008. Costco's October same-store sales declined 1 percent a year ago as consumers pared spending and a stronger U.S. currency eroded international revenue.
Costco operates 562 stores in North America, Asia and the U.K. The shares climbed $1.16, or 2 percent, to $58.81 yesterday on the Nasdaq Stock Market. They have gained 12 percent this year.
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