March 2 Warehouse club retailer Costco Wholesale
Corp reported lower-than-expected quarterly comparable
sales as price war among grocers intensified.
Costco's same-store sales rose 3 percent, excluding the
impact of changes in gasoline prices and foreign exchange.
Analysts on average were expecting 3.2 percent growth,
according to research firm Consensus Metrix.
Net income attributable to Costco fell to $515 million, or
$1.17 per share, in the second quarter ended Feb. 12 from $546
million, or $1.24 per share, a year earlier.
Total revenue rose 5.7 percent to $29.77 billion.
(Reporting by Gayathree Ganesan and Sruthi Ramakrishnan in
Bengaluru; Editing by Anil D'Silva)