Costco's Earnings Top Expectations in First Results Reflecting Membership Fee Hike

Costco Wholesale (COST) reported fiscal first-quarter earnings that beat analysts’ expectations, in its first quarterly results reflecting the impact of its hike in membership fees. The membership-based retailer saw revenue grow 7.5% to $62.15 billion, just above the analyst consensus from Visible Alpha. Net income of $1.8 billion or $4.04 per share was up from $1.59 billion or $3.58 per share a year earlier and exceeded expectations.   Costco's e-commerce sales increased 13%, while same-store sales were u ...