Costco's 4Q results top Wall Street expectations
ISSAQUAH, Wash. – Shoppers continue to head to Costco in search of deals, helping the wholesale club operator's fiscal fourth-quarter net income and revenue climb. Its performance beat Wall Street's expectations, and its shares rose 4 percent in morning trading.
Consumers have been drawn to stores like Costco, BJ's Wholesale Club and Sam's Club because they feel like they are getting bargains by purchasing items in bulk. Memberships at such stores have continued to rise in recent years as shoppers worried about the economy and high unemployment look for ways to save money.
For the period ended Sept. 2, Costco Wholesale Corp. said Wednesday that it earned $609 million, or $1.39 per share. That compares with $478 million, or $1.08 per share, a year earlier.
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