Warehouse clubs post same-store gains
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News Breaks May 5th, 2011NEW YORK ? Costco Wholesale Corp. and BJ's Wholesale Club Inc. turned in healthy same-store sales gains in April.Costco said Thursday that same-store sales in the United States, excluding gas inflation, rose 6% in April. That beating financial analysts' forecast for a 4.3% increase. The chain reported that inflation was affecting groceries as well, noting that food companies were passing on the increased cost of ingredients and shipping. Fresh food prices at the warehouse club operator rose by mid-to-high single digits, the company noted. Internationally, Costco saw comparable-store sales surge 10%, excluding fuel business. That
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