Costco Reports 12% Rise In April Same-Store Sales

Costco Wholesale Corp COST reported a 12% surge in its April same-store sales. The company's net sales increased 17% to $6.8 billion from $5.83 billion in the year-ago period. However, analysts were expecting comparable sales to rise by 8.9%. The company's same-store sales increased 11% in the US. Excluding gasoline-price inflation and stronger foreign currencies, Costco's same-store sales increased 7%. Costco shares fell 0.46% to close at $80.14 yesterday. Read more from Benzinga's Company news.