Costco posts Q1 results

ISSAQUAH, Wash. — Costco announced its operating results for the first quarter of fiscal 2014, ended November 24, 2013. Net sales for the quarter increased five percent, to $24.47 billion from $23.20 billion during the first quarter last year. Comparable sales rose 3%. Net income for the quarter was $425 million, or $.96 per diluted share, compared to $416 million, or $.95 per diluted share, last year.