Costco Q4 profit rises on strong sales, member fees

Wed Oct 10, 2012 3:29am EDT

Oct 10 (Reuters) - Costco Wholesale Corp posted a 27 percent jump in its fourth quarter profit, as the U.S. warehouse chain's sales continued to rise and it got a lift from higher membership fees.

Costco, which has millions of members who pay annual fees to shop at its giant stores, earned $609 million, or $1.39 per share in the quarter ended on Sept. 2, compared with $478 million, or $1.08 per share a year earlier.

Sales in the 17-week quarter rose 14 percent to $31.52 billion, Costco said. Same-store sales rose 5 percent and were up 6 percent excluding the impact of gasoline prices and foreign currency fluctuations.

Membership fee revenue rose about 18 percent to $694 million.

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