US warehouse retailer Costco recorded an increase in profits in its third quarter, boosted by sales from both its domestic and overseas division.
Net earnings in the three months ended 6 May amounted to US$386m, a 19% increase on the prior-year period, the firm reported yesterday (23 May). Operating profit rose 12% to reach $623m.
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Net sales increased 8% to $21.85bn. Same-store sales for the period climbed 5%.
Costco’s US sales rose 5% and international sales also grew 5%, the retailer reported.
Click here to view the full earnings release.
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