Issaquah, Wash. -- Costco Wholesale Corp's November same-store sales missed analysts' expectations, hurt by lower gasoline prices and weak foreign currencies.
Same-store sales were up 2% in the four weeks ended Dec. 1, including the impact of fuel sales and foreign exchange, short of the 3% gain analysts expected.
November net sales rose 5% to $8.78 billion.
Excluding the negative impact of foreign exchange and falling gasoline prices, same-store sales rose 4%.
For the 12-week first quarter ended Nov. 24, the company reported net sales of $24.47 billion, an increase of 5%.