March 12, 2013 / 7:16 AM / in 5 years

CORRECTED-Costco quarterly profit rises 39 pct on higher membership fees

(Corrects year-ago profit number to $394 mln from $390 mln in para 2)

March 12 (Reuters) - Costco Wholesale Corp posted a 39 percent increase in quarterly profit, helped by increasing sales and membership fees.

Net income was $547 million, or $1.24 per share in the fiscal second quarter ended on Feb. 17, compared with a profit of $394 million, or 90 cents a share, a year ago.

The company’s net sales for the quarter increased eight percent to $24.34 billion.

Membership fee revenue rose 15 percent to $528 million in the second quarter. (Reporting by Jessica Wohl in Chicago and Sakthi Prasad in Bangalore; Editing by Helen Massy-Beresford)

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