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Economic Issues Thread About, Costco Wholesale 2nd-quarter profit |
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03-03-2010, 04:56 AM
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Costco Wholesale 2nd-quarter profit
Costco Wholesale 2nd-quarter profit climbs partly on higher gas prices, softer dollar
(AP) 06:19:00 AM (ET), Wednesday, March 3, 2010 (ISSAQUAH, Wash.) Costco Wholesale says its fiscal second-quarter profit rose 25 percent as revenue increased on higher gasoline prices and overseas sales increased by a softer dollar. The wholesale club operator's earnings increased 25 percent to $299 million, or 67 cents per share, for the period ended Feb. 14. Quarterly results included a 3 cents-per-share charge related to an employee benefits change. Analysts predicted a bigger profit of 72 cents per share. Revenue climbed 11 percent to $18.74 billion, beating Wall Street's $18.56 billion. A key sales figure grew 9 percent, mostly on higher gas prices and the weaker dollar. Costco Wholesale Corp. is based in Issaquah, Wash. -------------------------------------------------------------------------------- * As a result of higher gas prices. Our James has posted on "Stocks on Wall Street" site on the oil industry and investing in it. This post is a good example of profiting as a result. *
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