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Costco Wholesale August Comps Up 7% - Quick Facts

(RTTNews) - Costco Wholesale Corp. (COST) reported 7% higher comparable sales for the month of August. For the fourth-quarter, comparable sales increased 6% and comparable sales also rose 7% for fiscal year 2010. Inflation in gasoline prices and strengthening foreign currencies had a positive impact on comparable sales, the company said.

Excluding effects of inflation and currency movements, comparable sales grew 5% and 4% in August and fourth quarter, respectively. Excluding these effects, comparable sales rose 4% for the fiscal year.

August comparable sales rose 6% in the U.S. and 11% in the overseas, however, excluding effects of inflation and currency movements, it grew 5% in the U.S. and 7% internationally.

Net sales for the month of August were $5.9 billion, an increase of nine percent from $5.4 billion in the same four-week period last year. Net sales for fourth quarter were $23.6 billion, up 8% from $21.9 billion in the year ago quarter. Net sales for the 52-week fiscal year 2010 were $76.3 billion, an increase of nine percent from $69.9 billion last year.