Costco Reports Higher-Than-Expected Profit Amid Rising Sales

Costco Wholesale Corp.’s quarterly profit rose more than expected, showing the club chain is capitalizing on an extended period of sales growth.

Earnings were $4.58 per share, excluding some items, during the fiscal quarter ended Feb. 15. That’s three cents higher than the average of estimates compiled by Bloomberg News. Membership fees totaled $1.36 billion during the quarter, beating expectations.