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Costco Profits Jump 19 Percent

Membership gains fuel strong Q3

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Costco Wholesale Corp. (Issaquah, Wash.) reported a third quarter profit gain of 19 percent, boosted mainly by an increase in membership fees.

Same-store sales jumped 7 percent for the quarter ended May 12, 2013, but revenue from membership fees gained 12 percent.

Bloomberg News said Costco has worked to lower its already-discounted prices to lure more shoppers to its annual memberships.

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