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Costco Shares Slide After Profits Miss (COST)

Costco EarningsCostco Wholesale Corporation (COST) announced ts first-quarter fiscal 2014 results today with a thunderous thud of disappointment. The quarterly earnings of 96 cents a share missed analysts estimates of $1.02.

Shares of Costco (COST) fell 5.6% to $114.83 during pre-market trading hours. Still that was up 2.2% quarter over quarter.

Revenue from membership fees advanced 7.4 percent to $549 million, Costco said. That was part of a 5.5 percent increase in total revenue to $25 billion, the company said. That compared with the average analyst estimate of $25.4 billion.

Just last week last week, Costco posted first-quarter sales that rose 5 percent, but still came in below analysts’ expectations.

Costco currently operates 648 warehouses, comprising 461 warehouses in the United States and Puerto Rico, 87 in Canada, 33 in Mexico, 25 in the United Kingdom, 18 in Japan, 10 in Taiwan, 9 in Korea, and 5 in Australia.

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