Costco Wholesale (NASDAQ:COST) reported that profit increased by 27 percent during the fourth quarter due to increasing sales and higher membership fees. The company earned $609 million, or $1.39 per share during the quarter, versus $478 million, or $1.08 per share in the same period last year. Sales increased by 14 percent to $31.52 billion, while same stores were up by 5 percent, and revenue from membership fees increased by 18 percent to $694 million.
Shares are higher by nearly 2.4 percent.
Yum! Brands announced that earnings in the third quarter beat estimates, and increased by about 23 percent from the same period last year. Net income during the quarter increased to $471 million, or $1 per share, versus $383 million, or 80 cents per share in the same period last year. Revenue increased to $3.57 billion from $3.27 billion in the same period last year. Analysts estimated the that the company would earn 97 cents per share on revenue of $3.64 billion.
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