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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.