Issaquah, Wash. – No. 1
warehouse club chain Costco reported a 16.4 percent rise in fourth-quarter
profits, to $348 million.
Net sales for the three
months, ended Feb. 13, increased 11 percent to $20.5 billion, and U.S.
same-store sales rose 3 percent excluding gasoline.
For the full month of
February, net sales rose 14 percent to $6.4 billion and U.S. same-store sales climbed
4 percent excluding gasoline.
Costco said it plans to
open upward of 16 new warehouses (including one relocation and one reopening) before
the end of August. It currently operates 424 locations in the U.S. and 581