US club store operator Costco has booked a jump in earnings for the first nine months of the year as strong sales gains boosted the group’s result.
Net sales for the nine months to 8 May rose 13% to US$59.46bn, including sales from the group’s Mexican joint venture, which Costco began to consolidate into its financial results in fiscal 2011. Excluding this, comparable sales were up 9% in the period, the company said today (25 May).
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Costco also revealed that currency exchange and gas price inflation raised the group’s sales totals. Excluding petrol and currency exchange, sales were up 6% during the period.
Net income was $984m, or $2.22 per share, compared to $871m, or $1.95 per share, last year.
