Issaquah, Wash. – Costco
reported a 16-percent hike in net sales to $20.2 billion for its fiscal third
quarter ended May 8.
Same-store sales in the
U.S. rose 6 percent during the period, excluding the positive impact of higher
gasoline prices.
Net income increased 5.9
percent to $324 million for the quarter, which reflected a $49 million pre-tax
last-in, first-out (LIFO) charge and a prior-year pre-tax benefit of $14
million.
The No. 1 warehouse club
attributed about 3 percentage points of its sales to the inclusion of its
50-percent owned Mexican joint venture in its results, but said the operation
had no impact on profits.
