UPDATE: Costco FQ4 Profit Rises 1%

Costco Wholesale

reported a 1% increase in its fiscal fourth-quarter profit. Costco's quarterly earnings rose to $617 million, or $1.40 per share, from $609 million, or $1.39 per share, in the year-ago period. Its same-store sales surged 3% in the month. However, analysts were projecting same-store sales to increase 3.7%. Its net sales gained 1% to $31.77 billion. Costco shares closed at $112.21 yesterday.