Costco Posts Profit Beat - TheStreet

Costco Posts Profit Beat

The bulk goods retailer beats Wall Street earnings estimates by 2 cents a share.
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Costco

(COST) - Get Report

beat fiscal third-quarter estimates by 2 cents a share Thursday.

The warehouse retailer posted net income of $295.1 million, or 67 cents a share, up from $224 million, or 49 cents a share, in the prior-year period (which included a $30.3 million after-tax charge).

The Issaquah, Wash., company generated net sales of $16.26 billion, up 13% from $14.34 billion a year ago.

Analysts were looking for earnings of 65 cents a share on $16.35 billion in revenue, according to the Thomson Reuters consensus estimate.

Shares of Costco were up $1.06, or 1.5%, at $74.30 in recent trading Thursday morning.

Rival retailer

Big Lots

(BIG) - Get Report

also posted a rise in quarterly earnings today, while

Sears Holdings

(SHLD)

swung to

a surprise loss

.

This article was written by a staff member of TheStreet.com.