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Tax benefit boosts Q2 profit at Costco

3/5/2015

Issaquah, Wash. – A tax benefit in connection with a special cash dividend helped boost net income at Costco Wholesale Corp. a better-than-expected 29% to $598 million from $463 million in the company’s second quarter of fiscal 2013.



Sales increased 4% to $26.9 billion and membership sales grew 5.8% to $582 million, with total revenues increasing 15.8% to $27.5 billion during the quarter ending Feb. 15.



Total company same store sales advanced 8% excluding the impact of fuel prices and a stronger U.S. dollar. However, comps in the U.S. rose 4% if fuel sales are included in the calculation while international comps actually declined 2% after converting sales in foreign currencies to the dollar.



Costco ended the quarter with 671 warehouses, including 474 in the United States and Puerto Rico, 88 in Canada, 34 in Mexico, 26 in the United Kingdom, 20 in Japan, 11 in Korea, 10 in Taiwan, seven in Australia and one in Spain.


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