Dive Brief:
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Sales at Costco Wholesale Corp. stores open at least one year increased 4% in January, despite being buffeted by lower gas prices and negative foreign exchange impacts, beating expectations of 3.3%.
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Total revenue for the Issaquah, Wash.-based retailer rose 6% to 7.99 billion.
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Costco shares rose on the news in pre-market trading.
Dive Insight:
The fate of any retailer is closely watched these days, and there’s often a laser-focus on Costco, which garners extra attention for its favorable worker policies, especially compared to not-quite-the-same rival Wal-Mart Stores. A wholesale club retailer like Costco is well-positioned to meet the price concerns of today’s retail customer. But the competition in this area is hot, and the future seems unpredictable right now.