(Reuters) – Costco Wholesale Corp posted a bigger-than-expected rise in quarterly profit on Wednesday, as rising gasoline prices led more members to fill up at the warehouse club’s discounted gas stations and then shop inside.
Rising gasoline prices had a positive impact on sales at Costco, which prices its fuel below nearby stations.
Sales at stores open at least a year, or same-store sales, rose 8 percent in February, outpacing a 7.6 percent rise that analysts had expected, according to Thomson Reuters data.
Sales rose 10 percent to $22.51 billion in the second quarter that ended on February 12, from $20.45 billion a year earlier.
Analysts on average were expecting $22.83 billion, according to Thomson Reuters I/B/E/S….”
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