Costco Third-Quarter Profit Rises as Company Expands in Mexico

Costco Wholesale Corp., the largest U.S. warehouse-club chain, posted a 6 percent rise in third- quarter profit on contributions from operations in Mexico.

Net income rose to $324 million, or 73 cents a share, in the quarter, from $306 million, or 68 cents, a year earlier, the Issaquah, Washington-based company said today in a statement. Analysts projected 77 cents a share, the average of 21 estimates compiled by Bloomberg. Revenue rose 16 percent.

Costco boosted revenue as consumers continued to pursue bargains at the chain, which lets shoppers and small businesses buy discounted goods including groceries and televisions.

Read Full Article from Bloomberg

- Posted: 2011-05-25 10:37:45

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