Costco Membership Soars

Costco Wholesale Corp released its third-quarter financial report, announcing net sales of $52.6 billion, an increase of 1.9% year-over-year. Membership revenue for the quarter reached $1 billion, up from $984 million from the previous year. Total revenue came to $53.65 billion, a rise from last year's Q3 total of $52.6 billion but below the predicted $54.57 billion. Comparable sales varied, with a slight decline in the U.S. and Canada (-0.1% and -1%, respectively), an increase of 4.1% internationally, and a 10% drop in eCommerce. Costco reported earnings per share of $2.93 for the third quarter, which includes a one-time charge of 50 cents per share.