Costco keeps up momentum in 3Q

HTT Staff -- Home Textiles Today, 5/24/2012 12:36:11 PM

Issaquah, Wash. - Costco Wholesale Corp. produced double-digit increases for both the third quarter and year to date in net income, complemented by fair increases in sales and comps.

Net income for the quarter, ended May 6, grew 19% to $386 million, or 88 cents per diluted share.

Sales climbed 8% to $21.85 billion. Comps, excluding a positive impact from gas prices and a negative impact from foreign currencies, were up 4% in the U.S. and 5% for the total company over the 12 weeks.

Year-to-date net income increased 12% to $1.10 billion, or $2.50 per share.

Net sales for the 36 weeks rose 10% to $65.54 billion. Comps, excluding a positive impact from gas prices and a negative impact from foreign currencies, grew year to date by 6% in the U.S. and 7% for the total company.