Costco Posts Higher Q4 Profit, But Sales Miss Views

reported higher earnings for its fiscal fourth quarter on Tuesday, but the company's sales missed analysts' estimates. The Issaquah, Washington-based company reported a quarterly profit of $767 million, or $1.73 per share, versus a year-ago profit of $697 million, or $1.58 per share. Its revenue rose to $35.78 billion from from $35.52 billion, while net sales gained to $34.99 billion from $34.76 billion. Analysts were expecting a profit of $1.66 per share on revenue of $36.21 billion. Its comparable sales slipped 1 percent for the 16 weeks ended August 30. However, comparable sales excluding fuel and foreign currency impacts gained 6 percent. Its membership fees increased 2.2 percent to $785 million. Costco's gross margin expanded to 11.1 percent from 10.7 percent. Costco shares fell 1.20 percent to $142.00 in after-hours trading.