We see just about every company nationwide, is suffering from the economic downturn. However, nothing seems to stop our friend Costco from making that bling bling ( profit).
Costcos’ shares jumpedto a record high Wednesday after reporting fourth-quarter profit rose a better than expected 4.7%.

Net income rose to $372.4 million, or 83 cents a share, from $355.6 million or 75 cents a share a year earlier,

The income is quite stellar, and the main reason of them gaining so high is them charging the membership fee. That accounted for more than half of the pretax profit.

What else?

Costco sure knows forex because, sales in the quarter ended Sept. 2 rose 3% to $20.09 billion, helped by foreign-currency translations.  Costco’s Shares are currently $68.98 COST ,  rose 5.67, +9.0%.

Membership fees rose to $388.2 million after Costco increased the number of members and last year raised membership rates by $5 each. The company has 520 warehouse clubs, including 385 in the United States and Puerto Rico. Costco said that it plans to open as many as 35 net new locations, plus one more in Mexico, as well as up to 10 relocations in the new fiscal year

Sometimes, we tend to think $5 is not much, but when it’s in large quantity, it turns into a goldmine. Costco had a 4% increase in the U.S sales, and 9% overseas.

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