Costco Shares Head Lower Following December Sales Data

Shares of Costco Wholesale Corporation COST were trading lower by nearly 2 percent on Thursday after the company reported its December sales data.

Costco said that its total net sales during the month of December rose to $12.45 billion compared to $12.13 billion in the same month a year ago. For the 18-week period ending January 3, sales rose 2 percent from a year ago to $40.86 billion.

Comparable store-sales rose 1 percent for the month of December, but were flat for the 18-week period. Excluding the negative impact from gasoline deflation and foreign exchange, comparable sales rose 5 percent during December and 6 percent for the 18-week period.