Costco profit misses estimates

Reuters

Dec 11 (Reuters) - Costco Wholesale Corp's first-quarter profit missed Wall Street estimates, weighed downby lower gasoline prices and weak foreign currencies.

Profit rose to $425 million, or 96 cents per share, from$416 million, or 95 cents per share, a year earlier.

Analysts on average had expected the company to earn $1.02per share, according to Thomson Reuters I/B/E/S.

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

Sales at stores open at least a year rose 3 percent,including the impact of fuel sales and foreign exchange.Excluding the negative impact of foreign exchange and fallinggasoline prices, same-store sales rose 5 percent.

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