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Costco Q3 profit rises but fall short of Street; sales up
Issaquah, Wash. – Costco Wholesale Corp. reported 3% year-over-year net income growth in its third quarter, to $473 million from $459 million in the year-ago period, as sales and membership fees improved. However, it came in short of the roughly $482 million in profit analysts had expected.
Net sales for the quarter increased 7% to $25.23 billion, from $23.55 last year.
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Ex-Winn-Dixie CEO joins RPAI board
Supermarket industry veteran Peter Lynch was named to the board of directors at Retail Properties of America (RPAI).
The publicly held owner and operator of 227 properties encompassing 31.2 million square feet said Lynch’s extensive experience in the grocery industry would aid RPAI in its repositioning efforts.