ISSAQUAH, Wash. (AP) -- Costco's revenue at stores open at least a year climbed 4 percent in May, missing Wall Street's expectations.
Analysts polled by Thomson Reuters predicted a 4.3 percent rise.
This figure is a key indicator of a retailer's health because it excludes volatility from stores recently opened or closed.
Costco said Thursday that revenue increased 5 percent at U.S. locations and 3 percent overseas.
Excluding lower gas prices and unfavorable foreign currency exchange rates, revenue at stores open at least a year rose 6 percent. It climbed 5 percent in the U.S. and 8 percent abroad.
The wholesale club operator said that total revenue for the four weeks ended May 27 rose 7 percent to $7.67 billion.
For the year to date, revenue at stores open at least a year climbed 7 percent, both in the U.S. and overseas.
Removing higher gas prices and unfavorable foreign currency exchange rates, revenue at stores open at least a year rose 6 percent in the U.S. and 9 percent internationally.
Total revenue increased 10 percent to $71.28 billion.
Last week Costco, which is based in Issaquah, Wash., reported that its fiscal third-quarter net income climbed 19 percent on lower asset charges.
Costco Wholesale Corp. has 602 warehouse locations, 435 in the U.S. and Puerto Rico, 82 in Canada, 32 in Mexico, 22 in the U.K., 13 in Japan, eight in Taiwan, seven in Korea and three in Australia.
