- Category: Grocers
- Last Updated on Sunday, 15 December 2013 10:21
- Published on Monday, 09 December 2013 06:35
- Written by britguy
On December the 5th, Washington-based food wholesaler Costco said that sales in the first quarter of 2014 (13-weeks) rose 5.5%, from $23.20 billion to $24.47 billion.
Revenue at $25,017 million (+5.5%) includes $546 million from membership fees (+7.4% vs $511m).
During this period, same-store sales were negatively affected by the price of gas (gas sales account for ~15% of consolidated revenue).
year over year the stock price was up 24%. Declining gas prices affected earnings pershare by $0.02.
Excluding changes in fx rate and gas price, same store sales would've been as follows: 4% in US, 6% International, 5% total company.
In the quarter immediately preceding this one, revenue was up only 1% however that period was one week shorter; comparable sales up +5%, international +4% or +7% when fx effects excluded.
Weakening foreign currencies lowered international profit by about $0.02 a share or $14 million. Consolidated net earnings up by $9m or 2.2% to $425 million. per share: 96 cents diluted vs 95 cents last year.
Number of warehouses : 648 (14 net opened since end of 2013 fiscal year). USA 461 (+10), Canada 87 (+2), Mexico 33, UK 25, Japan 18, Taiwan 10, Korea 9, Australia 5 (+2). Last year at this time new store openings were in the US (+3) and Canada (+1) only.