Costco Wholesale Corporation (-0.2%) was down slightly on the New York Stock Exchange on Thursday, despite reporting accelerating like-for-like sales growth in November.

The warehouse chain announced last night that it generated net sales of $20.1 billion in the four weeks to November 26, up 5.1% year-on-year.

On a like-for-like basis, sales rose by 3.5%, compared with a 3% increase in September.

The group also expressed its sadness at the death of Charles Munger, Warren Buffett's acolyte and long-standing board member, on the eve of his 100th birthday.

No one appreciated Costco more than Charlie," paid tribute to him in a statement by Craig Jelinek, the retailer's CEO.

"The group has benefited enormously from his wisdom over the past 25 years. The Costco teams send their deepest condolences to his family', he added.

Costco Wholesale currently operates 870 warehouse stores worldwide, including 599 in the USA, 108 in Canada, 29 in the UK, four in Spain and two in France.

Copyright (c) 2023 All rights reserved.