Fueled by healthy U.S. and international same-store sales growth, Costco (COST) revealed a stronger-than-expected 13% jump in fiscal second-quarter profits.
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The No. 1 U.S. warehouse club operator said it earned $394 million, or 90 cents a share, last quarter, compared with a profit of $348 million, or 79 cents a share, a year earlier. Analysts had been calling for EPS of 87 cents.
Costco said its sales rose 10% to $22.97 billion, narrowly topping the Street’s view of $22.85 billion. Same-store sales gained 7% in the U.S. and 10% internationally. Operating margins fell to 2.8% from 2.9%.
Costco also unveiled its February results, saying same-store sales climbed 8% overall and by the same figure in the U.S. and internationally. Excluding fuel, same-store sales were up 7% in the U.S.
Shares of Costco gained 0.47% to $85.67 in the premarkets, leaving them on track to continue their muted 2012 rise of less than 3%.