Costco reports higher quarterly profit

Warehouse club retailer Costco Wholesale Corp reported a 1.6 percent rise in quarterly profit.

Net income rose to $779 million, or $1.77 per share, in the fourth quarter ended Aug. 28, from $767 million, or $1.73 per share, a year earlier.

(Reporting by Sruthi Ramakrishnan and Abhijith Ganapavaram in Bengaluru; Editing by Shounak Dasgupta)