Costco reports Q1 results with profit up 13.2 percent

Costco Wholesale Corp. reported its first-quarter earnings yesterday, seeing revenue grow 7.5 percent, to US$62.15 billion, compared with the same quarter last year. Net income of US$1.8 billion was up 13.2 percent from Q1 last year. E-commerce sales increased 13.0 percent. Same store sales were up 5.2 percent in the U.S. and 5.8 percent in Canada. Costco operates some 108 stores in Canada and approximately 614 in the U.S.