Costco profit, net sales rise but miss forecasts
Costco Wholesale posted a 1 percent rise in quarterly profit and a three percent increase in its same-store sales for the month of September.
Costco earned $617 million, or $1.40 per share, in the 16-week fiscal fourth quarter ended on Sept. 1, compared with a profit of $609 million, or $1.39 per share, in the year earlier quarter that was 17 weeks long.
It also said that September sales at clubs open at least a year, or same-store sales, rose 3 percent, including the impact of fuel prices and foreign exchange.
Analysts had expected September same-store sales to rise 3.7 percent, according to Thomson Reuters I/B/E/S.
Fourth-quarter net sales rose 1 percent to $31.77 billion.