By  on October 9, 2013

Costco Wholesale Corp. reported 1.3 percent increase in fourth-quarter profit, but it failed to meet Wall Street's estimates, as costs rose.

For the quarter ended Sept.1, the wholesaler earned $617 million, or $1.40 a diluted share compared with year-ago profit of $609 million, or $1.39 a share.

Total revenue, including membership fees, expanded 0.8 percent to $32.49 billion, from $32.22 billion.

Analysts were looking for EPS of $1.46 a share on sales of $32.82 billion.

Same-store sales in the U.S. rose 5 percent for the quarter, as selling, general and administrative costs increased 1.8 percent to $3 million.

 

To access this article, click here to subscribe or to log in.

To Read the Full Article
SUBSCRIBE NOW

Tap into our Global Network

Of Industry Leaders and Designers

load comments
blog comments powered by Disqus