Costco beats on earnings as e-commerce sales jump

The warehouse club was helped by an increase in its annual membership fee.on Thursday beat Wall Street's quarterly earnings and sales estimates, as it got a boost in part from higher membership fees.

Costco has benefited from its reputation for selling bulk items at better value, as U.S. households feel the cumulative effect of higher food and housing prices. The membership-based club also hiked itsfor the first time in about seven years. The quarterly results are the first Costco has reported since that fee increase took effect in September.

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Costco beats on earnings as membership fee hike boosts revenueCostco in September increased its annual membership fee, helping to increase revenue from the prior year.
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