Costco Wholesale reported fiscal first-quarter results that fell short of the expectations of financial analysts.
For the period ended Nov. 24, the big-box retailer earned $425 million, or 96 cents per share. That's up from $416 million, or 95 cents per share, a year earlier. But analysts, on average, expected earnings of $1.03 per share, according to a FactSet poll.
Revenue increased 6 percent to $25.02 billion from $23.72 billion as sales improved and the wholesale club operator pulled in more money from membership fees. Wall Street expected $25.3 billion in revenue.
Sales at stores open at least a year climbed 3 percent. In the U.S, the metric also rose 3 percent. It edged up 1 percent overseas. This figure is a key gauge of a retailer's health because it excludes results from locations recently opened or closed. Associated Press
Copyright 2008 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.