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Costco key sales figure rises 5 percent in October

Costco Wholesale Corp. said Thursday that sales at stores open at least a year climbed 5 percent in October, helped by strengthening foreign currencies.
/ Source: The Associated Press

Costco Wholesale Corp. said Thursday that sales at stores open at least a year climbed 5 percent in October, helped by strengthening foreign currencies.

The warehouse club operator's results narrowly beat the 4.7 percent increase analysts surveyed by Thomson Reuters predicted.

Sales at stores open at least a year are a key indicator of retailer performance since they measure growth at existing stores rather than newly opened ones.

Excluding stronger foreign currencies and lower gas prices, sales at stores open at least a year rose 4 percent.

Monthly sales grew 7 percent to $5.68 billion for the period ended Nov. 1.

Costco currently runs 562 warehouses, including 409 in the U.S. and Puerto Rico, 77 in Canada, 21 in the U.K., seven in Korea, six in Taiwan, nine in Japan, 32 in Mexico and one in Australia.