Costco To Open Nine Stores By End Of 2014

September 4, 2014

Costco said it plans to open nine new warehouse stores before the end of calendar year 2014, following a boost in net sales for August and the fourth quarter.

During the month of August, net sales were $8.8 billion, an increase of 10% from $8 billion during the similar period last year.  Same-store sales in the United States increased 7%.

For the 16 week fourth quarter, the company reported net sales of $34.8 billion, an increase of 9% from $31.8 billion in the year-ago period.  Same-store sales in the United States increased 6%.

For the 52 week fiscal year ended August 31, Costco reported net sales of $110.2 billion, an increase of 7% compared with the year-ago period.  U.S. same-store sales rose 5%.

Source: Retailing Today