Costco Earnings Dip on One-Time Charges

ISSAQUAH, Wash. -- Costco Wholesale Corp. here said earnings declined for the second quarter and first half ended Feb. 18 as a result of three non-recurring items, while net sales and same-store sales rose.

ISSAQUAH, Wash. -- Costco Wholesale Corp. here said earnings declined for the second quarter and first half ended Feb. 18 as a result of three non-recurring items, while net sales and same-store sales rose. Net income fell 15.8% to $249.5 million for the 12-week quarter and 5% to $486.4 million for the first half, which the company said was due to three one-time items: a charge reflecting reduced gross margins on its revised sales return reserve; a charge associated with

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