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Costco profit rises on higher membership fees

from Reuters

Costco Wholesale Corp. posted a higher-than-expected quarterly profit after the U.S. warehouse retailer raised membership fees. Costco, which has millions of members who pay annual fees to shop at its giant stores, earned $609 million, or $1.39 per share in the fiscal fourth quarter ended Sept. 2, compared with $478 million, or $1.08 per share, a year earlier. more

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