Costco Had A Great Month In November Despite Staying Closed On Thanksgiving

"Our employees work especially hard during the holiday season, and we simply believe that they deserve the opportunity to spend Thanksgiving with their families," Paul Latham, a spokesman for Costco, told The Huffington Post.
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FILE - A shopper pushes a cart outside Costco Wholesale in Danvers, Mass. in this May 27, 2009 file photo. Costco's fiscal second-quarter net income fell 15 percent, hurt by softer sales of some non-food items, weaker gross margins in its fresh foods business and the impact of weaker foreign currency exchange rates on its international results. Its latest performance missed Wall Street's view. The stock declined in premarket trading on Thursday March 6, 2014. (AP Photo/Elise Amendola, File)
FILE - A shopper pushes a cart outside Costco Wholesale in Danvers, Mass. in this May 27, 2009 file photo. Costco's fiscal second-quarter net income fell 15 percent, hurt by softer sales of some non-food items, weaker gross margins in its fresh foods business and the impact of weaker foreign currency exchange rates on its international results. Its latest performance missed Wall Street's view. The stock declined in premarket trading on Thursday March 6, 2014. (AP Photo/Elise Amendola, File)

ISSAQUAH, Wash. (AP) — Sales from the established stores of warehouse club operator Costco climbed 5 percent last month to top Wall Street expectations.

Analysts expected 3.7 percent growth, on average, according to Thomson Reuters.

The strong results come even though Costco stayed closed on Thanksgiving -- unlike many other retailers. Increasing competition for Black Friday shoppers has led many stores in recent years to start their holiday "doorbusters" a day early.

"Our employees work especially hard during the holiday season, and we simply believe that they deserve the opportunity to spend Thanksgiving with their families," Paul Latham, a spokesman for Costco, told The Huffington Post last year.

The Issaquah, Washington, company said Thursday that same-store sales from its U.S. locations climbed 7 percent, while they fell 1 percent internationally.

Sales at stores open at least a year is a key gauge of a retailer's health because it excludes the volatility from stores recently opened or closed.

The company said the Midwest Southeast and San Diego areas led U.S. results. Mexico, Taiwan and Canada were strong internationally.

Excluding lower gasoline prices and foreign currency fluctuations, sales at stores open at least a year increased 8 percent for the company, 9 percent in the United States and 7 percent internationally.

Costco's total November sales rose 7 percent to $9.43 billion, and revenue for its first quarter, which ended Nov. 23, also climbed 7 percent to $26.28 billion.

The company runs 671 warehouses, including 474 in the United States and Puerto Rico.

Shares climbed 81 cents to $143.50 Thursday before markets opened. The stock had climbed about 20 percent so far this year, as of Wednesday's market close.

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