Costco Wholesale Corp. (COST) posted a 31% increase in fiscal second-quarter net income on strong international growth and continued consumer flight toward discount retailers.
For the period ended Feb. 17, net income was $327.9 million, or 74 cents a share, compared with $249.5 million, or 54 cents a share, a year earlier.
Last year's second quarter included $53.4 million in charges.
The wholesale-club giant's revenue increased 12% to $17 billion as same-store sales rose 7%.
Chief Financial Officer Richard Galanti said in December that a Wall Street forecast of 74 cents a share for the quarter "sounds good," saying the retailer had "gotten off to a good start" in the period.
The latest mean estimates of analysts polled by Thomson Financial were for earnings of 74 cents a share on revenue of $16.9 billion.
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment