Costco Wholesale has reported net sales in the US and Mexico of US$27.59bn for the fourth quarter of fiscal 2011, a 17 per cent year-on-year increase that contributed to a better-than-expected 11 per cent rise in fiscal Q4 earnings to US$478m.
Excluding petrol prices and foreign currency effects, comparable Q4 sales were up 6 per cent in the US and 10 per cent internationally, while annual sales jumped 5 per cent domestically and 10 per cent around the world.
The 592-warehouse club chain has outlets in the US, Puerto Rico, Canada, Mexico, the UK, Japan, Taiwan, Korea and Australia.
Its share price was unmoved by the statement, which included news of a 10 per cent hike in fees for some members.
