Costco wholesale

Costco today posted a 6% net sales increase for January, compared with the same period last year.

The company, which operates 25 warehouses in the UK, reported global net sales of $8bn (£4.6bn) for the four weeks ending 2 February, up from $7.5bn for the same period last year.

It also posted a 6% increase in net sales for the 22 weeks to 2 February to $46.3bn.

Comparable sales, excluding negative impacts from gasoline price deflation and foreign exchange, were up 6% for the four-week period and 5% for the 22-week period.

US sales growth stood at 5% for both periods. International growth was up 8% and 7% for the four-week and 22-week periods respectively.

Costco, which operates 649 warehouses worldwide, is set to publish its results for the fiscal quarter ending 16 February in March.

Last month the company confirmed it had started work on a 130,000sq ft warehouse in Hounslow, West London, with the site set to open in late summer.