Costco shares steady premarket after retailer posts 4.5% jump in Sept store sales

Investing.com -- Costco Wholesale (NASDAQ:COST) posted a 4.5% increase in comparable store sales in September amid stronger growth beyond its core domestic markets in the U.S. and Canada.

Shares in the membership-only retailer were hovering around the flatline in U.S. premarket trading.

In a statement late on Wednesday, Costco reported a 3.2% and 6.7% jump in comparable sales in the U.S. and Canada, respectively. Other international climbed 10% in the five weeks through Oct. 1.

Net sales rose to $22.75 billion in the five-week period ended Oct. 1, an uptick of 6% from $21.46 billion last year. E-commerce sales were also up 3.7% during the period.

The numbers come after the Issaquah, Washington-based company posted better-than-anticipated revenue and profit in its fiscal fourth quarter, as stable demand for essential items like fresh food offset a slump in customer appetite for big-ticket discretionary items that stemmed from elevated inflation and higher interest rates.

Speaking to analysts last month after unveiling the three-month results, Chief Financial Officer Richard Galanti noted that traffic has continued to "do very well," adding that sales have been solid for items like Christmas trees and toys.