Costco Profit Missed Expectation Even As Sales Increased

Shares of Costco are nearly unchanged on Thursday despite the quarterly results that missed Wall Street forecasts. Sales at stores opened for at least one year were up 6%.
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Shares of Costco are nearly unchanged on Thursday despite the quarterly results that missed Wall Street forecasts. Profit came in at $1.07 a share, $0.03 short of expectations, but earnings were up 3% from the same period last year. Sales were up 7% year over year to roughly $26 billion, a bit more than what analysts projected. Sales at stores opened for at least one year were up 6%, not bad considering the harsh winter most the country experienced. Meanwhile, sales at international stores grew 8%. A handful of Costco's competitors saw their revenues decline.