Costco Profit Tops Estimates as Sales Gains Outpace Wal-Mart
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Costco Wholesale Corp., the largest U.S. warehouse-club chain, posted third-quarter profit that topped analysts’ estimates as sales gains outpaced those at discount rivals such as Wal-Mart Stores Inc.
Profit rose to $1.17 a share in the three months through May 10, the company said Wednesday in a statement. The average of analysts’ estimates compiled by Bloomberg was $1.16.