Earnings for Third Quarter Up 30%, Price Co. Reports

Price Co. on Thursday reported that net income rose 30% to $14.7 million and that revenue rose 22% to $738.9 million for the third quarter ended June 7. Net income rose by 26.3% to $54.2 million, and revenue rose 25.5% to $2.4 billion for the three-quarter period.

Comparable sales of those Price Clubs operating during the same period last year increased 11% for the quarter and 14% for the three-quarter period.

San Diego-based Price operates 29 Price Club warehouse stores in the United States and one joint-venture warehouse in Montreal that is half-owned by Steinberg Inc.