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Costco January Same-Store Sales Up 8 Percent

U.S. warehouse club operator Costco Wholesale posted a better-than-expected 8 percent rise in January sales at stores open at least a year, helped by higher gasoline prices.

A Costco employee pulls shopping charts at a Costco Wholesale store.
Damian Dovarganes
A Costco employee pulls shopping charts at a Costco Wholesale store.

Net sales at Issaquah, Washington-based Costco rose 11 percent to $7 billion in the five weeks to Jan 29.

Analysts were expecting same-store sales to rise 6.1 percent, including the impact of fuel prices, according to Thomson Reuters data.

Excluding the impact of gasoline prices and foreign exchange, comparable January same-store sales were up 8 percent, Costco said.