UPDATE 3-Costco June same-store sales fall 6 pct

Thu Jul 9, 2009 3:12pm BST
 
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* Hit by slide in demand non-food, discretionary items

* June total sales down 4 pct to $6.88 bln

* Demand for food items remains strong

* Traffic up 4.5 pct from last year (Recasts; adds stock activity)

July 9 (Reuters) - Costco Wholesale Corp (COST.O) on Thursday reported a 6 percent fall in June same-store sales, hit by a slide in demand for non-food and discretionary items.

Analysts, on average, were expecting its same-store sales at stores open at least a year in June to fall 6 percent, according to Thomson Reuters data.

Same-store sales at its U.S. locations decreased 6 percent, while international division sales fell 3 percent.

Excluding the negative impact from gasoline price deflation, it said U.S. comparable sales would have been down 1 percent, while on a local currency basis it said international same-store sales increased 8 percent.

Customers pay an annual fee to shop at Costco's warehouses, which sell everything from laptop computers and bulk-sized packages of toilet paper to fresh fruit and frozen dumplings. Many of the clubs also operate gas stations.  Continued...

 

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