1 Min Read
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.