Costco profit jumps 31%; February sales rise 7%

Costco Wholesale Corp., the largest U.S. wholesale club, on Wednesday said its quarterly quarter jumped 31%, boosted by international demand and U.S. sales of gasoline.

Net income in the fiscal second-quarter climbed to $327.9 million, or 74 cents a share, from $249.5 million, or 54 cents, a year earlier, when it had $53.4 million in non-recurring charges, the Issaquah, Wash.-based company said. Sales in the quarter ended Feb. 17 rose 12% to $17 billion.

Profit matched the average estimate of analysts surveyed by Thomson Financial. Sales exceeded the $16.9 billion in average analyst estimate, according to Thomson Financial.

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- Posted: 2008-03-05 10:23:16

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