ISSAQUAH, Washington ( TheStreet) -- Costco ( COST), the warehouse retailer, said net income in the fourth quarter rose about 10.6% as sales jumped 17%. Costco, in a statement Wednesday, said it would increase annual membership fees by $5 for certain members. The increase is effective Nov. 1. Net income in the fourth quarter was $478 million, or $1.08 a share, compared with $432 million, or 97 cents, a year earlier. Sales in the quarter were $27.59 billion. Same-store sales rose 12% in the quarter, and 12% in September. Analysts surveyed by Thomson Reuters expected Costco to earn $1.10 a share on revenue of $27.84 billion. -- Written by Joseph Woelfel >To contact the writer of this article, click here: Joseph Woelfel >To submit a news tip, send an email to: firstname.lastname@example.org.