Consumer
Costco Profit Beats Estimates Amid Moderating Inflation
- Shopper traffic increased in latest quarter, company says
- Paid memberships rose, while more than 90% of members renewed
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Costco Wholesale Corp. posted higher-than-expected profit as moderating prices fueled consumer spending and store traffic climbed.
The big-box retailer reported earnings of $5.29 per share during the quarter ended Sept. 1, surpassing the average estimate of Wall Street analysts.