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Costco comparable-store sales rise 5 percent on weak dollar
Bloomberg News
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Published: 11/5/2009 7:55 AM

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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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