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ISSAQUAH, Wash. - Costco Wholesale Corp., based here, today reported a 29 percent increase in quarterly profit, and a strong same-store sales increase of 11 percent.
For the third quarter, ended May 9, Costco said it earned $198.7 million, or 42 cents a share, up from $153.8 million, or 33 cents a share, a year ago. Sales rose 14 percent to $10.67 billion, while same-store sales increased 11 percent. Most securities analysts had been expecting the company to earn 37 cents a share.
Costco operates 433 warehouse stores, including 320 in the United States and Puerto Rico.