Costco's earnings climbed more than 19% in the first quarter and revenue rose 10.2% to $35.07 billion, as construction at its first location in China is underway.
With comparable-store sales for the third quarter down 5.3%, interim CEO and CFO Joe Anto said the company is focused on inventory and assortment to reverse the trend.
The retailer's third-quarter sales increased 8.7% to $6.42 billion, above estimates of $6.39 billion, and saw same-store sales rise to a better-than-expected 2.7%.
