Costco posts solid results  

By Staff -- Home Textiles Today, 10/10/2007 12:50:00 PM

Issaquah, Wash. – Membership warehouse club Costco today reported relatively positive results for its fourth quarter and fiscal year.

Fourth-quarter (16 weeks, ended Sept. 2) sales rose 3% to $20.1 billion, while comparable store sales were up 5%.

Earnings in the quarter reached $372.4 million, or $0.83 per diluted share, advancing from $355.6 million, or $0.75 per diluted share, an 11% boost.

Net income for fiscal 2007 at the 520-warehouse chain was $1.08 billion, down 1.8% from $1.10 billion in 2006. Earnings per diluted share, however, were up 3.0% to $2.37.

Sales rose 6.9% to $63.1 billion for the year. Comp store sales were up 6% for the year (5% at U.S. units; 9% internationally).