Costco Sales and Profits Climb on Higher Membership Fees

Costco Wholesale' (COST) third-quarter profit rose as the company continues to benefit from low gas prices, strong store sales and membership fees.
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Costco Wholesale' (COST) third-quarter profit rose as the company continues to benefit from low gas prices, strong store sales and membership fees. The second-largest retailer in the U.S. behind Wal-Mart Stores Inc. and one of the largest fuel retailers in the country, Costco has benefited from lower fuel prices and improving store sales and membership fees. Last month, the company paid a special one-time dividend of $5 a share, or $2.2 billion in all. Costco has also ended its exclusive partnership with American Express Co. , under which Costco only accepted AmEx cards, and reached a similar arrangement with Citigroup Inc. under which the retailer now only accepts Visa -branded credit cards.