Costco Reports 10% Rise In July Same-Store Sales

Costco Wholesale Corp COST reported a 10% rise in its July sales at stores open at least a year. Costco's total sales surged 15% to $6.74 billion. However, analysts were expecting same-store sales to increase 8.6%. Excluding the impact of gasoline prices and foreign exchange, Costco's same-store sales increased 5%. Costco's shares gained 1.97% to close at $77.08 yesterday.