Costco Q1 Sales Pick Up 5 Percent

CostcoISSAQUAH, Wash.-Costco said its sales for the first quarter ending on Nov. 24 rose 5 percent over its first quarter of last year, to $24.5 billion, according to a preliminary report from the warehouse-club retailer.

The company also said sales for the 13 weeks ending on Dec. 1 were $26.8 billion, up 6 percent from the same period in 2012. U.S. same-club sales rose 3 percent both periods, and international same-club sales increased 1 percent for both periods. Factoring out the negative impact of gasoline sales, U.S. same-club sales were up 4 percent in both periods and international same-club sales rose 6 percent for both periods.

For November, total Costco sales were $8.8 billion, an increase of 5 percent from November 2012. U.S. same-club sales for the month were up 2 percent with gas and 3 percent factoring out gas. For the international clubs, same-club sales in November increased 1 percent with gas and 6 percent without gas.

The retailer plans to release its full first-quarter report on Dec. 11.