Costco October Same-Store Sales Rise 9%

Costco Wholesale on Thursday reported a 9 percent rise in October sales at stores open at least a year, helped by higher gasoline prices.

Analysts, on average, were expecting the company's same-store sales to rise 5.6 percent, according to Reuters Estimates.

Costco , the largest U.S. warehouse club, said net sales for the four weeks ended Nov. 4 rose 13 percent to $5.21 billion.

Costco customers pay an annual membership fee to shop at the retailer's stores, which sell a wide range of products from toilet paper to seafood to diamond rings.

The company said its U.S. comparable sales rose 7 percent and 17 percent internationally.

Costco said that in October, the average sales price for a gallon of gasoline climbed 25 percent. Excluding the inflated cost of gas, the company said October comparable sales in the U.S. would have risen 5 percent.

In October, the company saw strong sales in televisions, computers, digital cameras and deli, but lower demand for tobacco and home furnishings.

Costco also said sales in California continue to lag the rest of the U.S., but added they saw improvement due to gas price inflation.