Costco stock up 0.7% in premarket trade after beating same-store sales expectations

Shares of Costco Wholesale Corporation COST, -2.47% were up 0.7% in premarket trade Thursday after the company reported that same-store sales for the first quarter were up 8.8%, beating the consensus of 6.5%. The company reported $34.31 billion in the first quarter, up 10.3% from $31.12 billion in the year-ago quarter but missing the FactSet consensus of $34.52 billion. For the month of November, Costco reported net sales of $12.77 billion, an increase of 9.8% from $11.63 billion last year. Costco shares have gained 21.6% in the year to date, while the S&P 500 SPX, -3.24% has gained 1%.

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