Costco Reports Quarterly Earnings of 71 Cents Per Share
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%.