Costco’s Profit Advances 19% With Boost From Membership Fees
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Costco Wholesale Corp., the largest U.S. warehouse-club chain, said third-quarter profit rose 19 percent, beating analysts’ estimates, as revenue from membership fees increased.
Net income in the quarter ended May 12 rose to $459 million, or $1.04 a share, from $386 million, or 88 cents, a year earlier, the Issaquah, Washington-based company said today in a statement. Analysts projected profit of $447 million, the average of 11 estimates compiled by Bloomberg.