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UPDATE 1-Costco's profit, same-store sales miss estimates

(Adds share price, analyst estimates)

March 7 (Reuters) - Costco Wholesale Corp on Wednesday missed Wall Street forecasts for quarterly profit and comparable-store sales, as the retailer faced stiff competition from Walmart and Amazon.com Inc in a cut-throat U.S. retail industry.

Comparable-store sales, excluding the impact of fuel and currency changes, rose 5.4 percent in the second quarter ended Feb. 18. Analysts on average had estimated a 5.6 percent increase, according to Thomson Reuters I/B/E/S.

Costco's net income rose to $701 million from $515 million in the prior-year quarter. The company booked a $74 million one-time gain thanks to lower U.S. corporate taxes.

Excluding the gain, Costco earned $1.42 per share, missing analysts' estimates of $1.47.

Total revenue climbed 10.8 percent to $33 billion, edging past expectations of $32.75 billion.

Shares of Issaquah, Washington-based Costco fell slightly in after-hours trading. (Reporting by Uday Sampath in Bengaluru; Editing by Shounak Dasgupta and Sai Sachin Ravikumar)