Costco's World is Flat

Costco Wholesale Corp. (Issaquah, Wash.), operator of 346 discount warehouse stores, reported that its sales rose by 10 percent in its fiscal first quarter. But net income was essentially flat, matching analysts'expectations. Net income in the quarter ended November 26 came in at $129.5 million, or 28 cents a diluted share, compared with $129.3 million, or 28 cents per share, in the same period a year earlier. Analysts polled by First Call/Thomson Financial had expected the warehouse operator to report a profit of 28 cents a share.