Costco Reports Weaker Same Store Sales

Costco Wholesale Inc. COST said same store sales rose 5 percent in July, falling slightly shy of analyst expectations of an increase of 5.7%. Overseas same store sales rose 6 percent. Costco also reported that revenue for the month was 8.55 billion, an increase of 9 percent. So far this year, same store sales have increased 4 percent with total revenue rising 7 percent to of 101.43 billion. Shares of COST are trading slightly lower at 118.50 in pre-market, after closing yesterday at 119.59.