retail news in context, analysis with attitude

• Costco this morning reported that its first quarter earnings were $262.5 million, compared with $262 million in the year-earlier period. Q1 net sales were $16.04 billion from $15.47 billion. Total revenue, including membership fees, rose 3.7 percent to $16.39 billion from $15.81 billion. Same-store sales were up one percent.
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