Costco and BJ's report profit growth

NEW YORK Growth in membership income and increased sales aided by higher gas prices led to increased profits at Costco and BJ’s. Both companies reported quarterly results on Wednesday.

Costco said sales for its second quarter ended Feb. 14, increased 11% to $18.4 billion, and earnings per share increased nearly 22% to 67 cents. Same-store sales at U.S. clubs increased 5%, but if the favorable impact of higher gas prices is excluded comps rose 2%.

BJ’s said sales for its fourth quarter ended Jan. 30 increased 9.4% to $2.74 billion, and adjusted earnings per share that excluded the impact of a legal settlement increased 6.7% to 95 cents. Same-store sales increased 4.6%, or 2.3% excluding the impact of gasoline prices.