Costco quarterly profit beats estimates after comps bounce
SEAFOODNEWS.COM [Bloomberg News] By Renee Dudley December 11, 2014 -
Costco Wholesale Corp. (COST), the largest U.S. warehouse-club chain, posted quarterly profit that topped estimates.
Net income rose 17 percent to $496 million, or $1.12 a share, from $425 million, or 96 cents, a year earlier.
As it heads into the year-end holiday season, Costco is outperforming other chains, including Wal-Mart and Target Corp.
Sales at Costco stores open a year or more increased 7 percent, excluding changes in gasoline prices and foreign-currency exchange rates. In its most recent quarter, Wal-Mart reported a 0.5 percent increase in U.S. comparable-store sales, while Target posted a gain of 1.2 percent...
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