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Costco (COST) Posts Flat Comps in August; Sales Up
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Costco Wholesale Corporation (COST - Free Report) reported flat comparable-store sales (comps) for the month of August (the four weeks ended Aug 28, 2016) following a 2% decline in July and flat comps in June. Comps for August reflect flat comps for the company’s U.S. and Other International locations and a 4% increase across the Canadian locations.
However, excluding the impact of foreign currency fluctuations and deflation in gasoline prices, Costco’s comps for the month under review rose 2%. The company recorded comps growth of 2% and 4% across its U.S. and Canadian locations, respectively, while it witnessed flat comps at Other International outlets.
Costco reported flat comps for the 16-week period ended Aug 28, 2016. The company witnessed a flat and a 2% increase in comps across its U.S. and Canadian locations, offset by a 2% decline at its Other International locations. Excluding the effect of gasoline prices and foreign currency fluctuations, comps for the period jumped 3%, exhibiting an improvement of 2%, 5% and 1% at the U.S., Canadian and Other International locations, respectively.
On the sales front, the company reported a 2% jump in net sales to $8.9 billion for the four-week period ended Aug 28, 2016. For the 16-week period, net sales came in at $35.7 billion, reflecting a 2% rise from $35 billion generated in the year-ago period.
Costco, which competes with Wal-Mart Stores Inc. (WMT - Free Report) , currently operates 715 warehouses, which include 501 in the U.S. and Puerto Rico, 91 in Canada, 36 in Mexico, 28 in the U.K., 25 in Japan, 12 in Korea, 12 in Taiwan, 8 in Australia, and 2 in Spain. The company plans to open about 10 new warehouses, including a relocation, before the end of this calendar year.
Zacks Rank
Costco carries a Zacks Rank #2 (Buy). Other favorably ranked retail stocks that appear promising include Burlington Stores, Inc. (BURL - Free Report) sporting a Zacks Rank #1 (Strong Buy) and Big Lots Inc. (BIG - Free Report) carrying a Zacks Rank #2.
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Costco (COST) Posts Flat Comps in August; Sales Up
Costco Wholesale Corporation (COST - Free Report) reported flat comparable-store sales (comps) for the month of August (the four weeks ended Aug 28, 2016) following a 2% decline in July and flat comps in June. Comps for August reflect flat comps for the company’s U.S. and Other International locations and a 4% increase across the Canadian locations.
However, excluding the impact of foreign currency fluctuations and deflation in gasoline prices, Costco’s comps for the month under review rose 2%. The company recorded comps growth of 2% and 4% across its U.S. and Canadian locations, respectively, while it witnessed flat comps at Other International outlets.
Costco reported flat comps for the 16-week period ended Aug 28, 2016. The company witnessed a flat and a 2% increase in comps across its U.S. and Canadian locations, offset by a 2% decline at its Other International locations. Excluding the effect of gasoline prices and foreign currency fluctuations, comps for the period jumped 3%, exhibiting an improvement of 2%, 5% and 1% at the U.S., Canadian and Other International locations, respectively.
On the sales front, the company reported a 2% jump in net sales to $8.9 billion for the four-week period ended Aug 28, 2016. For the 16-week period, net sales came in at $35.7 billion, reflecting a 2% rise from $35 billion generated in the year-ago period.
Costco, which competes with Wal-Mart Stores Inc. (WMT - Free Report) , currently operates 715 warehouses, which include 501 in the U.S. and Puerto Rico, 91 in Canada, 36 in Mexico, 28 in the U.K., 25 in Japan, 12 in Korea, 12 in Taiwan, 8 in Australia, and 2 in Spain. The company plans to open about 10 new warehouses, including a relocation, before the end of this calendar year.
Zacks Rank
Costco carries a Zacks Rank #2 (Buy). Other favorably ranked retail stocks that appear promising include Burlington Stores, Inc. (BURL - Free Report) sporting a Zacks Rank #1 (Strong Buy) and Big Lots Inc. (BIG - Free Report) carrying a Zacks Rank #2.
Confidential from Zacks
Beyond this Analyst Blog, would you like to see Zacks' best recommendations that are not available to the public? Our Executive VP, Steve Reitmeister, knows when key trades are about to be triggered and which of our experts has the hottest hand. Click to see them now>>