Costco Reports Quarterly Earnings of 71 Cents Per Share

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Costco Wholesale Corp. (COST) reported earnings of 71 cents per share for the quarter ended Nov. 21, compared with 60 cents per share a year earlier.

The consolidation of the company's joint venture in Mexico has no impact on earnings attributable to Costco, the company said in a statement.

Sales at stores open at least one year rose 7% in the quarter, driven by a 14% gain at international stores. Excluding the impact of rising gasoline prices and strengthening foreign currencies, comparable sales gained 5% overall.

Net sales for the quarter rose 11% to $18.82 billion. Excluding the impact of sales at Mexican stores, the increase would have been 8%.
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