ISSAQUAH, Wash. -- Costco Wholesale Corp. here said sales and earnings rose for the third quarter and 36 weeks ended May 7.
come rose 13.7% to $120.3 million for the quarter and 76.7% to $431.3 million for the first three quarters. The quarter's results were slightly below analysis estimates, including the effect of a one-time noncash after-tax accounting charge of $118 million taken in last year's first quarter.
The company also said that for the fourth quarter, ending Sept. 3, it expects earnings to be 1 to 2 cents per share below "the current average published consensus estimate" of 45 cents per share. Costco's stock price fell 21.5% the day of the earning's announcement.