Costco Profit Tops Estimates as Low Prices Drive Traffic
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Costco Wholesale Corp., the largest U.S. warehouse-club chain, posted fiscal fourth-quarter profit that topped analysts’ estimates as low prices drove sales.
Net income in the quarter ended Aug. 31 rose 27 percent to $609 million, or $1.39 a share, from $478 million, or $1.08, a year earlier, the Issaquah, Washington-based company said today in a statement. Analysts projected $1.31, the average of 25 estimates compiled by Bloomberg.