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    Costco key revenue figure rises 8 pct. in Jan.

    Associated Press – Thu, Feb 2, 2012

    ISSAQUAH, Wash. (AP) — Costco Wholesale Corp. said Thursday that revenue at stores open at least a year climbed 8 percent in January, helped by higher gas prices.

    Results topped expectations. Analysts polled by Thomson Reuters had predicted a 6.1 percent increase.

    This figure is a key gauge of a retailer's health because it excludes results from stores recently opened or closed.

    The wholesale club operator said revenue at U.S. stores open at least a year rose 9 percent, while the metric rose 6 percent at international stores.

    Total revenue for the four weeks ended Jan. 29 rose 11 percent to $7 billion.

    Costco said its results were helped by higher gas prices, while the changing values of foreign currencies against the dollar were a drag. A strengthening dollar can make goods less competitive abroad, and the company loses some revenue when converting income in weaker foreign currencies back into the dollar.

    Taking out the impact of gas prices and foreign currencies, revenue at stores open at least a year rose 8 percent in the U.S. in January and 9 percent internationally. The figure for the total company remained 8 percent.

    So far in Costco's fiscal year, which started in late August, revenue in stores open at least a year has climbed 9 percent. Excluding the impact of gas prices and foreign currencies, the measure rose 7 percent.

    Costco will report financial results for its fiscal second quarter, which ends on Feb. 12, on Feb. 29.

    The Issaquah, Wash., company runs 598 warehouses, mostly in the U.S. It also has stores in Canada, Mexico, the U.K. and several Asian countries.

     

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