Pursuits
Costco Profit Lags Analysts’ Estimates on Higher Expenses
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Costco Wholesale Corp., the largest U.S. warehouse-club chain, posted fourth-quarter profit that trailed analysts’ estimates, hurt by higher costs and lower gasoline prices that crimped sales.
Net income in the quarter ended Sept. 1 rose to $617 million, or $1.40 a share, from $609 million, or $1.39, a year earlier, the Issaquah, Washington-based company said today in a statement. Analysts projected profit of $1.46, the average of 13 estimates compiled by Bloomberg.