Costco Profits for 3Q Hit $306 Million

May 26, 2010  by in UnCategorized   

By Home Furnishings Business in Financial Reports on May 27, 2010

Costco Wholesale Corp. (NASDAQ: COST) reported net income of $306 million for the third quarter ended May 9, compared to $210 million during the same quarter in 2009.

Net sales for the quarter climbed 12 percent to $17.39 billion from $15.48 million during the third quarter of last year. Net sales for the first 36 weeks of the year, increased 10 percent to $52.66 billion from $48 billion during the first 36 weeks of fiscal 2009.

Same-store sales for the quarter climbed 10 percent and comparable-store sales for the three quarters climbed 7 percent.

Net income for the 36-week period of fiscal 2010 was $871 million, compared to net income for the 36-weeks of fiscal 2009 of $712 million.

Read more on Costco's third quarter earnings.