Costco Tops Estimates in Sign That It’s Weathering Price War
- Industry hit by bout of food deflation, adding pressure
- Shares gain in late trading after company posts results
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Costco Wholesale Corp. reported fourth-quarter earnings that beat analysts’ estimates, even as falling grocery prices cut into its sales growth.
Profit amounted to $1.77 a share in the period, which ended Aug. 28, the Issaquah, Washington-based company said in a statement. Analysts had estimated $1.73 a share, according to data compiled by Bloomberg.