Costco Q4 profit rises on strong sales, member fees
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.
- Protesters fell Lenin statue, tell Ukraine's president 'you're next'
- Four dead in apparent Connecticut murder-suicide
- South Korea expands air defense zone to partially overlap China's |
- Singer Susan Boyle reveals she has Asperger's syndrome: paper
- Dynasty's Congress party punished in Indian state elections