Costco Wholesale
Costco Wholesale 1Q profit up 2.6pc
Costco Wholesale says its fiscal first-quarter profit rose 2.6 percent. Higher costs ate up much of a 12.5 percent increase in revenue.
The wholesale club operator reported on Thursday that its net income rose to USD320 million, or 73 cents per share, for the quarter that ended on 20 Nov. That's up from USD312m, or 71 cents per share, in the same quarter last year.
Costco's revenue rose to USD21.18 billion because of higher gasoline prices and benefits of foreign exchange.
The secret of Costco Wholesale's success
Costco Wholesale's entrepreneurial ability to continuously reinvent itself has given it a powerful worldwide competitive advantage.
Many of the basics of the now common warehouse model were determined with by the early Costco concept – offering big discounts on products stripped of fancy accoutrements.
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