Costco: profit rises despite cold weather
(CercleFinance.com) - Costco Wholesale posted higher-than-expected quarterly earnings, despite the negative impact of the cold weather in the US and Canada in February.
Costco, which operates 770 warehouses, earned 889 million dollars, or 2.01 dollars per share in its second quarter ended 17 February, compared with 701 million, or 1.59 dollar per share, a year earlier.
Net sales for the quarter increased 7.3%, to 34.6 billion dollars, with comparable sales up 5.4%.
Costco shares were up 4.8% at 227.2 dollars in early trading on Friday.
Copyright (c) 2019 CercleFinance.com. All rights reserved.
Costco, which operates 770 warehouses, earned 889 million dollars, or 2.01 dollars per share in its second quarter ended 17 February, compared with 701 million, or 1.59 dollar per share, a year earlier.
Net sales for the quarter increased 7.3%, to 34.6 billion dollars, with comparable sales up 5.4%.
Costco shares were up 4.8% at 227.2 dollars in early trading on Friday.
Copyright (c) 2019 CercleFinance.com. All rights reserved.