Costco Q3 profit rises but fall short of Street; sales up

Issaquah, Wash. – Costco Wholesale Corp. reported 3% year-over-year net income growth in its third quarter, to $473 million from $459 million in the year-ago period, as sales and membership fees improved. However, it came in short of the roughly $482 million in profit analysts had expected.

Net sales for the quarter increased 7% to $25.23 billion, from $23.55 last year.

Total same-store sales rose 6%, excluding negative impacts from gasoline price deflation and foreign exchange. Same-store sales rose 6% in the United States, and 8% internationally.

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