Costco Wholesale Corp's November same-store sales fell short of analysts' expectations, as lower gasoline prices and weak foreign currencies dampened a five percent increase in the company's monthly net sales.
Sales at stores open at least a year rose 2 percent in the four weeks ended Dec. 1, including the impact of fuel sales and foreign exchange.
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On that basis, analysts expected same-store sales to rise 3.3 percent for the month of November, according to Thomson Reuters data.
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November net sales rose 5 percent to $8.78 billion.
Excluding the negative impact of foreign exchange and falling gasoline prices, same-store sales rose 4 percent.
For the twelve-week first quarter ended Nov. 24, the company reported net sales of $24.47 billion, an increase of five percent.
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Costco, which competes with BJ's Wholesale Club Inc and Wal-Mart Stores Inc's Sam's Club, offers everyday items like bananas below supermarket prices, hoping customers will buy other goods as well. It usually prices gasoline lower than competing stations.
In other retail news, L Brands reported a 5.5 percent sales decrease for November. Analysts had projected a 1.1 percent decline. The Ohio -based retailer, which operates Victoria's Secret and Bath and Body Works, said same-store sales were $988.5 million for the four weeks that ended Nov. 30.
Discount retailer Dollar General said same-store sales rose 4.4 percent last quarter as customers looked to save money.