US wholesaler Costco has seen its quarterly profits inch up on the back of higher sales, the company announced today (10 December).

Costco booked net income of US$266m for the three months to 22 November, the first quarter of its fiscal 2010 period. Net income in the same period last year stood at $263m.

Net sales climbed from $16.04bn a year ago to $16.92bn this year. Comparable sales rose 3%.

Shares in Costco had dipped 0.1% in early trading on the New York Stock Exchange, standing at $58.66 at 07:22 ET.