Costco profit misses estimates
Dec 11 (Reuters) - Costco Wholesale Corp's first-quarter profit missed Wall Street estimates, weighed down by lower gasoline prices and weak foreign currencies.
Profit rose to $425 million, or 96 cents per share, from $416 million, or 95 cents per share, a year earlier.
Analysts on average had expected the company to earn $1.02 per share, according to Thomson Reuters I/B/E/S.
Last week, Costco posted first-quarter sales that rose 5 percent, but still came in below analysts' expectations.
Sales at stores open at least a year rose 3 percent, including the impact of fuel sales and foreign exchange. Excluding the negative impact of foreign exchange and falling gasoline prices, same-store sales rose 5 percent.
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