Dec 9, 2004 10:09 AM, from staff and wire reports

Costco Wholesale Corp announced that net sales for the first quarter of fiscal 2005 increased 10% to $11.34 billion from $10.31 billion during the first quarter of fiscal 2004. On a comparable warehouse basis—warehouses open at least a year—net sales rose 7%. The first quarter of fiscal 2005 ended Nov 21, 2004.

Net income for the first quarter of fiscal 2005 climbed 21% to $193.2 million from $160.2 million during the first quarter of fiscal 2004.

Costco operates 449 warehouses, including 333 in the United States and Puerto Rico, 63 in Canada, 15 in the United Kingdom, five in Korea, three in Taiwan, five in Japan, and 25 in Mexico.