Costco Reports Quarterly Earnings of 71 Cents Per Share

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%.