ISSAQUAH, Wash. — Costco Wholesale Corp. here last week posted a rare decline in net income after taking a charge for the third quarter. The club-store operator posted net income of $224 million for the 12-week period, which ended May 13, a decline of about 5% from year-ago levels. The company took a pre-tax charge of $48.1 million in the period, reflecting reduced gross margin related to estimated future merchandise returns. Comparable-store sales for the quarter were up 7%. Total sales ...
REGISTER TO VIEW THIS ARTICLE - Register for a Free Account
Why Register for FREE?
Registering for content on Supermarket News will give you INSTANT access to invaluable articles and media content that industry professionals rely on. You will have access to our special reports, feature articles, and industry analysis. It’s FREE, easy and quick. What are you waiting for! In addition you will also receive a complimentary copy of SN's salary survey sent to you by email.
Attention Paid Print Subscribers: While you have already been granted free access to SN we ask that you register now. We promise it will only take a few minutes! Or visit your profile and add your print magazine account number and zip code.