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The economic climate and gas prices continue to benefit warehouse club retailers, and were key drivers of double-digit sales growth in June for Costco Wholesale Corp.
The retailer said it saw net sales of $7.14 billion for its fiscal June -- the five weeks ended July 6 -- an increase of 12 percent from $6.35 billion last year.
For the first forty-four weeks of its reporting period ended July 6, Costco’s net sales were $59.84 billion, up 13 percent from last year’s $53.17 billion.
U.S. comparable sales for the month were 9 percent and 6 percent year to date.
According to Costco, the U.S. comparable sales figure includes the effect of gasoline price inflation, with the average sales price per gallon of gasoline up 38 percent for the five-week month of June compared to last year. Excluding gasoline price inflation, U.S. comps would have been up 5 percent.
Costco operates 537 warehouses, including 393 in the U.S. and Puerto Rico, 75 in Canada, 19 in the United Kingdom, six in Korea, five in Taiwan, eight in Japan, and 31 in Mexico.