Even with more shoppers, falling prices keep Costco's earnings flat

More shoppers are strolling at the aisles at Costco Wholesale Corp. (COST) stores, but they're still spending less on average. And that left the warehouse club chain with flat results during its most recent quarter.

Costco reported that net income for the quarter ended Nov. 22 was $266 million, or 60 cents per share, which met Wall Street's expectations to the penny. That was barely higher than the $263 million it posted during the same period last year.