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Costco Reports Flat Q1 Profits

By Alan Wolf -- TWICE, 12/21/2009

ISSAQUAH, WASH. — Costco's net income rose 1.1 percent to $266 million and net sales increased 6 percent to $16.9 billion for its first fiscal quarter, ended Nov. 22.

Comp-store sales rose 3 percent company-wide and 2 percent at U.S. locations during the three-month period, excluding the mixed impact of currency fluctuations and lower gas prices.

The No. 1 wholesale club currently operates 566 warehouses worldwide, including 413 in the U.S. and Puerto Rico.

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