UPDATE: Costco Posts Downbeat Q1 Profit
Costco Wholesale (NASDAQ: COST) reported a weaker-than-expected first-quarter profit.
Costco's quarterly profit surged to $425 million, or $0.96 per share, versus a year-ago profit of $416 million, or $0.95 per share. However, analysts were expecting earnings of $1.02 per share.
Costco's sales climbed 5%, while sales at stores open at least a year gained 3%.
Costco shares closed at $120.04 yesterday.
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