Editor’s Note: A previous version of this story miscounted the number of Costco stores in Connecticut.
Costco’s net income rose 6 percent in its fiscal third quarter, the warehouse retailer with four Connecticut stores and plans underway for a fifth in New Britain said Wednesday, with growing membership numbers pushing sales both at home and abroad, The Associated Press reports.
The nation’s biggest wholesale club has been among the top performers during the down economy and now, with more discretionary income in the pockets of shoppers, Costco had capitalized on the additional free spending.
The Connecticut stores are in Brookfield, Milford and Waterbury.
Costco, based in Issaquah, Wash., posted earnings of $324 million, or 73 cents per share, for the period ended May 8. That’s up from $306 million, or 68 cents per share, a year ago.
The current quarter’s results included an inventory charge of 7 cents per share.
Analysts polled by FactSet, who typically exclude one-time charges, expected earnings of 77 cents per share.
Revenue climbed 16 percent to $20.62 billion from $17.78 billion, just edging out Wall Street expectations.
