Source Pravda.Ru

Costco Wholesale 1Q net income rise 11 percent meeting forecasts

Costco Wholesale Corp., the largest US warehouse-retail club, reported fiscal first-quarter net income rose 11 percent.

Earnings for the quarter ended Nov. 25 reached $262 million, or 59 cents a share, from $236.9 million, or 51 cents, in the year-earlier period.

Sales reached $15.47 billion from $13.85 billion. Total revenue at the Issaquah, Wash., chain, including membership fees, rose 12%, to $15.81 billion, MarketWatch reports.

Costco Wholesale Corporation began operations in 1983 in Seattle, Washington. In October 1993, Costco merged with The Price Company, which had pioneered the membership warehouse concept in 1976, to form Price/Costco, Inc., a Delaware corporation.

In January 1997, non-warehouse assets were spun off to Price Enterprises, Inc., and the company changed its name to Costco Companies, Inc. On 30th August, 1999, the Corporation re-incorporated from Delaware to Washington and changed its name to Costco Wholesale Corporation, which trades on the NASDAQ under the symbol 'COST'.

Costco operates a chain of cash and carry membership warehouses that sell high-quality, nationally branded and selected private-label merchandise at low prices to businesses purchasing for commercial use or resale, and also to individuals who are members of selected employment groups.

The Company's business is based upon achieving high sales volumes and rapid inventory turnover by offering a limited assortment of merchandise in a wide variety of product categories at low prices.

Source: agencies

Comments
Moving inexorably towards war
Malaysia complains of faulty Russian Sukhoi Su-30 fighter jets
Brexit: The UK's misunderstanding of Democracy
The Amazon and the New Conquistadores
The Amazon and the New Conquistadores
Russians lose faith in their future, get ready for worse
Without INF Treaty, USA can destroy Russian nuclear weapons easily
Malaysia complains of faulty Russian Sukhoi Su-30 fighter jets
Without INF Treaty, USA can destroy Russian nuclear weapons easily
USA plays to pretend a mighty dragon that can no longer breathe fire
USA plays to pretend a mighty dragon that can no longer breathe fire
Putin sees no drama if Russia misses Davos forum
Macron challenges Trump. French independence and croissants at stake
Putin's three days in Singapore mark Russia's major geopolitical changes since 2000
Putin's three days in Singapore mark Russia's major geopolitical changes since 2000
Moving inexorably towards war
Putin dislikes the idea of US army bases coming to Kuril Islands
Putin dislikes the idea of US army bases coming to Kuril Islands
Putin sees no drama if Russia misses Davos forum
How can Americans and Russians understand each other?
How can Americans and Russians understand each other?