October 4, 2018 / 8:29 PM / 15 days ago

Costco quarterly sales narrowly beat estimates

Oct 4 (Reuters) - Warehouse club operator Costco Wholesale Corp’s quarterly sales narrowly beat estimates on Thursday, with online sales losing steam in the face of intense competition from Amazon Inc and Walmart.

Net income attributable to Costco rose to $1.04 billion, or $2.36 per share, in the fourth quarter ended Sept.2, from $919 million, or $2.08 per share, a year earlier.

Net sales rose 5 percent to $44.41 billion, while analysts were expecting $44.27 billion. (Reporting by Soundarya J in Bengaluru)

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