(Adds analyst estimates, details)
May 28 Warehouse club operator Costco Wholesale
Corp reported third-quarter results below analysts'
estimates hurt by an increase in merchandise costs and other
Merchandise costs in the quarter ended May 11 rose about 7
percent to $22.55 billion while selling, general and
administrative expenses rose about 8 percent.
Net income for the quarter rose to $473 million, or $1.07
per share, from $459 million, or $1.04 per share, a year
Net sales at the largest U.S. warehouse operator rose 7
percent to $25.23 billion.
Analysts on average expected a profit of $1.09 per share on
revenue of $25.76 billion, according to Thomson Reuters I/B/E/S.
The warehouse retailer, which sells everyday items priced
lower than supermarket competitors like Wal-Mart Stores Inc
and Target Corp, operates 655 warehouses
(Reporting by Arnab Sen and Shailaja Sharma in Bangalore;
Editing by Gopakumar Warrier)