Dive Brief:
- Costco reported a 17% jump in net income in its most recent quarter, exceeding Wall Street's expectations.
- The country's largest warehouse club said same-store sales rose 7%, not including fuel.
- Membership fee revenue went up 6% to $582 million, compared to $549 million last year.
Dive Insight:
If Costco has a single, overriding advantage over other companies that sell groceries, it's gasoline. Costco sells quite a bit of it. Falling gas prices have certainly aided profits, along with membership fees.
