US club store Costco Wholesale Corp. has posted a 25% jump in quarterly profits, with sales gains driven by international expansion.
For the second quarter, ended 14 February, Costco posted net profit of US$299m, up from $239m last year.
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Revenues gained 11%, climbing to $18.74bn from $16.84bn last year.
Sales at stores open at least a year rose 3% during the period, Costco said.
However, sales gains in the company’s domestic market lagged international growth. US same-store sales climbed 2% while international identical sales rose 10%.
Click here for Costco’s full release or check back for just-food’s post-conference call update.
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