Costco does well in Q4, FY2010

ISSAQUAH, Wash. — Costco had a big pickup in sales during fourth quarter 2010 and the fiscal year as a whole, according to an earnings report released Wednesday.

The membership-based mass-merchandise retailer reported fourth-quarter sales of $23.59 billion, an 8% increase over $21.89 billion in last year's fourth quarter. Sales for the entire fiscal year were $76.25 billion, a 9% increase over $69.89 billion in fiscal year 2009.

Profit for the quarter was $432 million, compared with $374 million in fourth quarter 2009. Profit for the fiscal year was $1.3 billion, compared with $1.09 billion in fiscal year 2009.