Costco cools a bit
December 11, 2013-- Home Textiles Today,
Issaquah, Wash. - Costco's recent quarter failed to meet expectations, in part because of lower gas prices and weaker currencies.
Net income for the company's first fiscal quarter, ended Nov. 24, rose 2.2% to $425 million, or 96 cents per share. Sales increased 5.0% to $24.47 billion.
Same-store sales were up 3% for the total company, 3% for the U.S. and 1% for international.
Excluding the impact of gas and foreign exchange, comps were up 5% for the total company, 4% for the U.S. and 6% for international.