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Costco sales and profits top Street

Issaquah, Wash. -- Costco Wholesale Corp. reported Wednesday that net income for the quarter ended Nov. 25 rose 30% to $416 million, compared with $320 million in the year-ago period and surpassing analysts’ forecasts.

Sales increased 9.6% to $23.71 billion from $21.2 billion, beating Wall Street’s estimated $22.11 in revenue. Same-store sales increased 6% domestically and 7% internationally, excluding fuel sales and foreign exchange effects.

Costco’s revenue has risen the past four quarters and has beaten estimates two quarters in a row. The warehouse club operator plans to add one additional warehouse – in Korea – before the end of calendar year 2012.