Costco posts another strong quarter
Retail Editor 3 -- Home Textiles Today, February 29, 2012
Issaquah, Wa. - Costco Wholesale Corporation ended its second quarter with double-digit gains in net income and sales.
For the quarter ended Feb. 12, net income jumped 13.2% to $394 million, or 90 cents per share. Sales rose 10% to $22.51 billion. Excluding a positive impact from higher gasoline prices and a negative impact from foreign currencies, comparable sales were up 7% in the U.S., 10% for the international segment and 7% for the total company.
For the first half of fiscal 2012, net income rose by 8.8% to $714 million, or $1.62 per share. Sales increased 11% to $43.7 billion. Excluding the impacts from fuel inflation and foreign exchange rates, comps were up 7% in the U.S., 10% for the international segment and 7% for the total company.
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