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Costco Reports Higher Fiscal Q3, May Sales

5/31/2006 08:55:00 AM Eastern

Issaquah, Wash. — Costco reported gains in sales and net income for its fiscal third quarter, ended May 7, and a 15 percent gain in sales for May vs. the same month last year.

Net sales for the third quarter of fiscal 2006 were $13.0 billion, up 11 percent from $11.75 billion during the third quarter of the last fiscal year. Net income for the fiscal third quarter was up 14 percent to $235.6 million, from $209.8 million the same time last year.

Net sales for the four weeks, ended May 28, were up 15 percent to $4.71 billion, from $4.11 billion in the same four-week period of the prior fiscal year. Comp sales for U.S. stores in May were up 9 percent while for the first three quarters of this fiscal year rose 8 percent.

Costco currently operates 350 warehouses in the United States and Puerto Rico and another 127 locations internationally, as well as Costco Online, an electronic commerce Web site, at www.costco.com and at www.costco.ca in Canada.

Net sales for the first three fiscal quarters were up 11 percent to $39.45 billion. Net income so far this year is $747.6 million, up from last year’s $708.4 million for the same time last year.