Membership warehouses operator Costco Wholesale Corp. (COST) reported May comparable sales growth of 4% for the total company. Net sales in May totaled $7.67 billion, an increase of seven percent from $7.14 billion in the same period last year.
The company said the deflation in gasoline prices had a slight negative impact on comparable sales for the four-week period, while inflation in gasoline prices had a positive impact for the thirty-nine week period; foreign currencies had a negative impact for both periods. Excluding these effects, total company's comparable sales for the 4-week period went up 6%.
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