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2 percent dip in Costco sales beats estimates
CommentsCostco Wholesale Corp.’s sales declined less than analysts estimated in August as the largest U.S. warehouse club boosted international revenue.
Sales at stores open at least a year decreased 2 percent in the four weeks ended Aug. 30, Costco said Thursday. Sixteen analysts surveyed by Retail Metrics LLC in Swampscott, Mass., estimated average same-store sales decrease of 5.6 percent.
Consumer hesitance for discretionary purchases and price declines for major appliances curbed U.S. revenue, David Strasser, an analyst at Janney Montgomery Scott LLC, wrote in a Sept. 1 report.
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