Costco Profit Up 5.6% on Home Furnishings
Costco Wholesale Corp. said fiscal third-quarter earnings increased 5.6%, helped by sales of home furnishings and electronics.
Net income rose to $209.8 million, or 43 cents a share, from $198.7 million, or 42 cents, a year earlier. Sales rose 10% to $11.7 billion, the Issaquah, Wash.-based company said.
Costco was forecast to earn 42 cents, Thomson First Call said. The company last month cut its profit forecast for the third quarter to as much as 43 cents a share because of lower gasoline profit.
Shares of Costco rose 7 cents to $45.49.
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