U.S. warehouse club operator Costco Wholesale posted a higher-than-expected 12 percent rise in April sales at stores open at least a year, helped by higher gasoline prices and strengthening foreign currencies.
Analysts were expecting same-store sales to rise 8.9 percent, including the impact of fuel prices, according to Thomson Reuters data.
Costco recorded 16 percent same-store sales growth at its international segment, while U.S. same-store sales rose 11 percent.
For the four weeks ended April 30, net sales at Issaquah, Washington-based Costco rose 17 percent to $6.80 billion.
Excluding the impact of gasoline price increase and strong foreign currencies, comparable store sales for April rose 7 percent.