Costco (COST) Sales Rise More Than Expected

Retail

Published: October 4, 2012 3:25 am

Last Updated: October 4, 2012 5:04 am

High-end big-box retailer Costco (NASDAQ: COST) had a better September than expected as revenue rose 8% to $9.31 billion. Same-store sales were up 6% worldwide. Excluding gas prices, the increase was 5%.

Final net sales for the 53-week fiscal year 2012 ended September 2, 2012, were $97.06 billion, an increase of 12% from $87.05 billion during the 52-week fiscal year 2011. Net sales for the 17-week fiscal fourth quarter ended September 2, 2012, were $31.52 billion, an increase of 14% from $27.59 billion during the 16-week fiscal fourth quarter of fiscal 2011.

Costco’s numbers are a critical measure of big-box retail activity. It is the member of the group that includes Wal-Mart Stores Inc. (NYSE: WMT) and Target Corp. (NYSE: TGT). Among them quarterly retail sales are well above $150 billion.

The Costco numbers are encouraging as the year-end holiday period approaches. Many retailers make all of their profits in the final two months of the year.

Douglas A. McIntyre

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