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Costco Wholesale revenue comparison rises in May

Thu Jun 3, 2010 7:35 AM EDT
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Associated Press

In this March 3, 2010 photo, shopping carts are shown at Costco in Mountain View, Calif. Costco Wholesale Corp. said Thursday, June 3, 2010, that revenue in stores open at least one year rose 9 percent in May.(AP Photo/Paul Sakuma)

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ISSAQUAH — Costco Wholesale Corp. said Thursday that revenue in stores open at least one year rose 9 percent in May.

Analysts surveyed by Thomson Reuters, on average, expected revenue in stores open at least one year to rise 9.7 percent.

For the four weeks ended May 30, revenue in stores open at least one year rose 7 percent in the U.S. and 17 percent internationally.

Excluding gas price inflation and the weaker dollar, revenue in stores open at least one year rose 5 percent.

Total sales for the period rose 11 percent to $6.09 billion from $5.47 billion last year.

Revenue at stores open at least a year is a key indicator of a retailer's performance because it excludes growth at stores that open or close during the year.

Year-to-date, revenue rose 10 percent to $57.17 billion from $52.15 billion last year.

The Memorial Day holiday fell in the reporting month of May last year but not this year, helping sales by about 2 percent.

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WatchTheOtherHand

Notice that they focus on Costco only. Since so many people are cutting back and out of work, more people have been going to wholesalers like Costco and Sam's Club.

How about putting that tidbit of information in your article. Why not report on the other stores who have seen their revenues flatline or decline?

Is it too much to ask to get BOTH sides of a story for once instead of constantly getting spin?

    Reply#1 - Thu Jun 3, 2010 8:50 AM EDT
    Tired_of_ExtremistsDeleted
    WatchTheOtherHand

    Read this article

    Also about the May retailer numbers and see if it sounds as rosy of a picture to you. This article chooses to focus on just ONE high-performer as if it is somehow representative of the whole retail picture.

    The fact that people are turning to wholesale retail outlets to purchase more goods when the rest of the retail market is turning in poor to lackluster numbers means that things are NOT improving for most people. Quite a different picture than this article attempts to 'spin'.

      #1.2 - Thu Jun 3, 2010 10:50 AM EDT
      Tired_of_ExtremistsDeleted
      Reply
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