Warehouse club operator Costco Wholesale Corp reported a 7.3per cent increase in quarterly revenue on Thursday, as people stocked up on essentials before hunkering down in their homes to contain the spread of the coronavirus.
FILE PHOTO: People wear masks as they wait to enter a Costco Wholesale store during the outbreak of coronavirus disease in Washington, DC, U.S. April 10, 2020. REUTERS/Joshua RobertsREUTERS: Warehouse club operator Costco Wholesale Corp reported a 7.3per cent increase in quarterly revenue on Thursday, as people stocked up on essentials before hunkering down in their homes to contain the spread of the coronavirus.
Total revenue rose to US$37.27 billion from US$34.74 billion last year, driven by a jump in online sales.Net income attributable to Costco fell to US$838 million, or US$1.89 per share, in the third quarter ended May 10, from US$906 million, or US$2.05 per share, a year earlier.
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