Costco November same-store sales fall 5 percent
Costco (Nasdaq: COST) said its same-store sales dropped 5 percent in November, dragged down by declining gas prices and foreign exchange rates. Excluding gasoline deflation and foreign exchange, the company reported a same-store sales increase of 3 percent.
Total monthly sales dipped 3 percent to $5.55 billion, while total sales for the 13 weeks ended Nov. 30 climbed 3 percent to $17.52 billion.
Total same-store sales for the 13-week period grew 1 percent. Adjusted for gasoline and foreign exchange, total sales climbed 4 percent.
Wal-Mart same-store sales rise in November
Wal-Mart Stores (NYSE: WMT) said November same-store sales rose 3.4 percent, as consumers shopped more ahead of the holidays as gas prices dropped.
Same-store sales rose 3.4 percent at Wal-Mart stores and 3.5 percent at its Sam's Club warehouse division. Including fuel, same-store sales rose 3 percent.
Total sales rose 2 percent to $32.21 billion, hurt by an 11 percent decline in international sales due to the stronger dollar.
The company expects December same-store sales to rise at the high end of a 1 percent to 3 percent range.
--Compiled by Wendy Geister
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