Issaquah, WA, May 27--Costco Wholesale Corp. posted a higher quarterly profit, thanks to strong spring sales of items including lawn and garden equipment and food.
The largest U.S. warehouse club operator said it earned $198.7 million, or 42 cents a share, in the fiscal third quarter ended May 9, up from $153.8 million, or 33 cents a share, a year earlier.
Analysts, on average, expected earnings of 37 cents per share, according to Reuters Estimates.
Quarterly sales rose 14 percent to $10.67 billion, while sales at stores open at least a year -- a key retail measure known as same-store sales, were up 11 percent.
Costco, based in, operates 433 warehouse stores worldwide, including 320 in the United States and Puerto Rico.
The company's shares closed at $37.44 on Wednesday on the Nasdaq. The stock has traded in a range of $28.83 to $40.42 over the past 52 weeks.
