March 2, 2017 / 9:39 PM / 8 months ago

Costco quarterly same-store sales miss estimates

March 2 (Reuters) - Warehouse club retailer Costco Wholesale Corp reported lower-than-expected quarterly comparable sales as price war among grocers intensified.

Costco’s same-store sales rose 3 percent, excluding the impact of changes in gasoline prices and foreign exchange.

Analysts on average were expecting 3.2 percent growth, according to research firm Consensus Metrix.

Net income attributable to Costco fell to $515 million, or $1.17 per share, in the second quarter ended Feb. 12 from $546 million, or $1.24 per share, a year earlier.

Total revenue rose 5.7 percent to $29.77 billion. (Reporting by Gayathree Ganesan and Sruthi Ramakrishnan in Bengaluru; Editing by Anil D‘Silva)

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