Costco Wholesale Corporation, the US parent of Costco UK, has posted an 8% drop in sales in its international division in the year to 30 August.

Costco's international division includes the UK, Korea, Taiwan, Japan, Mexico and Australia. The wholesaler claimed that if the impact of fuel deflation and foreign exchange were excluded, sales actually rose 7% during the period.

International sales in the 16 weeks to 30 August fell 3%, but were up 7% excluding fuel deflation and foreign exchange.

Full-year group sales fell 2% to $71.4bn.