Costco Wholesale’s comparable sales drops 6% for June
Costco Wholesale Corp

Costco Wholesale Corp., Warehouse club operator said Thursday that its comparable sales for June plunged 6 percent.

Earlier, analysts had also projected its same-store sales to drop 6 percent.

The Issaquah, Washington, D. C.-based Company said total sales for the period ended June slipped 4 percent to $6.88 billion.

For the year to date, same-store sales plunged 3 percent whereas total sales dropped to $59.02 billion from $59.84 billion.

Comparable sales, excluding the negative impacts from gasoline deflation and foreign exchange, soared 2 percent in the U. S. and increased 8 percent overseas.

For the month of May, Costco's comparable sales dropped 7 percent, with a 5 percent dip in net sales, which stood at $5.47 billion.

Costco, the largest U. S. warehouse club, sell everything from candies to laptop computers.

In the recent trading, Costco shares closed at $46.02.

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