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Profits up for Costco
United States
Tuesday 11 October 2011
MD
The Costco concept appeals to consumers: 17% increase in turnover and 11% in profits.
American Costco Wholesale has published its fourth quarter results showing that net income increased 11% to $478 million with revenues up 17% to $27.6 billion. The sales increase was 5% in the U.S. and 10% internationally.
From November 1, the annual fee for membership of the wholesale club will increase from 50 to 55 dollars for members 'US Goldstar' in the United States and Canada. The Executive Membership, which allows further reductions, will increase from 100 to 110 dollars.
Costco Wholesale has 592 warehouses worldwide. This year Costco opened 20 new outlets. Next year Costco should open 10 more in the United States and 10 other countries.
source : associated press
