Wall Street loses steam after hitting new highs As Bank Profits Plunge, Wall Street Bonuses Fall Modestly
Summary Box: Costco beats Wall Street estimates
THE NEWS: Costco Wholesale Corp. said its fiscal second-quarter profit rose 13 percent. It topped Wall Street expectations.
THE DETAILS: The company said revenue at stores open at least a year climbed 8 percent. The figure is a key gauge of a retailer’s health because it excludes results from stores recently opened or closed.
BEHIND THE NUMBERS: In the down economy, consumers have turned to the company‘s warehouse stores for deals on bulk groceries and household staples.
Article source: http://finance.yahoo.com/news/summary-box-costco-beats-wall-153759138.html