Costco Wholesale(COST) reported that third-quarter net income rose 19%, due in large part to increased sales and revenue from membership fees. For the Quarter that ended May 12 the wholesale club giant earned $459 million, $1.04 per share, and increase over last year’s $386 million or $.88 per share.
Wall Street analyst were predicting a dollar $1.02 per share. overall revenues increased by 8% to $24.08 billion from $22.32 billion. Membership fee revenue increased from $531 million form $475 million., with overall in-store revenues increasing by 5%, 6% in the US and 4% overseas.
Costco Wholesale Corp (COST) close that $112.95 yesterday and is up in premarket activity to $113.94
Analysts continue to be positive for the company’s performance in the next quarter.
Costco Wholesale Corp (COST) currently operates 627 wholesale warehouse clubs , including 449 in the U.S. and Puerto Rico, 85 in Canada, 33 in Mexico, 24 in the U.K., 15 in Japan, nine in Taiwan, nine in Korea and three in Australia.
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