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Costco’s CE Sales Slumped In August

Issaquah, Wash. — Costco reported negative comp sales for consumer electronics in August. 9/05/2013 12:01:00 PM Eastern

Issaquah, Wash. — Costco reported negative comp sales for consumer electronics in August.

The results mirror reports by national and independent retailers of tepid CE sales this summer, and a sluggish back-to-school season.

In contrast, the No. 1 warehouse club said net sales rose 7 percent in August, to nearly $8 billion, while U.S. comp sales increased 5 percent excluding gasoline.

Costco currently operates 634 warehouses worldwide, including 451 in the U.S.