Economy

Costco Oct. key revenue metric beats Street's view

ISSAQUAH, Wash. (AP) — Costco's sales at stores open at least a year rose 3 percent in October, beating Wall Street's expectations.

Analysts surveyed by Thomson Reuters predicted a 2.6 percent increase for the wholesale club operator. This figure is a key gauge of a retailer's health because it excludes results from locations recently opened or closed.

In the U.S., the metric climbed 4 percent. It rose 3 percent overseas. Excluding the impact of lower gas prices and foreign currency fluctuation, sales at stores open at least a year increased 6 percent. It climbed 5 percent in the U.S. and rose 7 percent internationally.

Costco Wholesale Corp., which is based in Issaquah, Wash., said Thursday that total revenue for the four weeks ended Nov. 3 climbed 6 percent to $8.15 billion.

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