ISSAQUAH, Wash. -- Costco here has been able to retain "a good chunk" of the business it gained during the California supermarket strike, Richard Galanti, chief financial officer, said during an earnings conference call last week.
1% to $193.2 million, or 40 cents a share, from $160.2 million, or 34 cents, during the year-ago period. Earnings were impacted by the negative effect of hurricanes in Florida, mostly Hurricane Jeanne, Galanti said.
Costco said membership renewals remained constant at 86%, while gross margins increased by 12 basis points over the year-ago period, despite lower margins on gasoline.
