Costco Wholesale Corp (COST) has reported a 13.54 percent rise in profit for the quarter ended Nov. 20, 2016. The company has earned $545 million, or $1.24 a share in the quarter, compared with $480 million, or $1.09 a share for the same period last year.
Revenue during the quarter grew 3.23 percent to $28,099 million from $27,220 million in the previous year period. Gross margin for the quarter expanded 34 basis points over the previous year period to 13.56 percent. Total expenses were 96.98 percent of quarterly revenues, down from 97.18 percent for the same period last year. This has led to an improvement of 20 basis points in operating margin to 3.02 percent.
Operating income for the quarter was $849 million, compared with $767 million in the previous year period.
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