Costco Sees 7 Percent Comps for July

ISSAQUAH, Wash. -- Strong fresh food sales and the newest "Harry Potter" book contributed to 7 percent comparable-store sales for membership club retailer Costco Wholesale Corp.'s U.S. operations.

The retailer saw net sales of $5.02 billion for the four weeks ended Aug. 5, an increase of 11 percent from $4.53 billion during the same period last year.

For the first 49 weeks of its reporting period ended Aug. 5, 2007, Costco had net sales of $59.33 billion, up 9 percent from last year's $54.41. The fiscal 2007 year-to-date net sales results include the $452 million adjustment to the sales returns reserve. Excluding the adjustment, net sales for the period were $59.78 billion, a 10 percent increase over last year.

Costco operates 513 warehouses, including 378 in the United States and Puerto Rico, 71 in Canada, 19 in the United Kingdom, five in Korea, four in Taiwan, six in Japan, and 30 in Mexico.
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