UPDATE 1-Costco August same-store sales beat forecasts

Thu Aug 30, 2012 12:51pm IST

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Aug 30 (Reuters) - U.S. retailer Costco Wholesale Corp posted a 6 percent rise in comparable sales in August, ahead of forecasts as higher fuel prices offset a stronger dollar.

Analysts, on average, had expected sales in stores open for at least a year to rise 4.5 percent, including the impact of fuel prices and foreign exchange, according to Thomson Reuters data.

Excluding the effects of fuel and foreign exchange, Costco posted an August same-store sales increase of 6 percent.

Net sales at the largest warehouse club operator, which runs 608 warehouses in nine countries, rose 8 percent to $7.40 billion for the four-week period ended Aug. 26.

International same-store sales, excluding the impact of fuel prices and foreign exchange, rose 6 percent.


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