Costco Wholesale Corp. on Thursday reported a 12 percent increase in quarterly profit, helped by demand for gasoline and food.
The warehouse club operator, which competes with Wal-Mart Stores Inc.’s Sam’s Club, said net income rose to $215.8 million (45 cents per share) in the first quarter ended on Nov. 20, from $193.2 million (40 cents) a year earlier. Analysts, on average, had expected earnings of 45 cents per share. Net sales rose 12 percent to $12.66 billion.
