Boosted by the opening of 10 new...

Boosted by the opening of 10 new stores since this time a year ago, Price Co. said that third-quarter revenue increased 28% to $942.2 million. Operator of 38 Price Club membership warehouses, Price posted a third-quarter profit of $18.7 million, up 27% from the same three-month period last year, when Price’s profit was $14.7 million on revenue of $738.9 million.

For the first nine months of its fiscal year, Price’s profit stands at $70.7 million on revenue of $3.1 billion, up from $54.2 million on sales of $2.5 billion for the same three quarters the previous year.

Sales growth at Price Clubs open a year or more was 4.51% during the quarter ended June 5, up from a 2.92% growth rate the previous quarter.

Price Co. plans to open at least one more warehouse, in Glendale Ariz., before the end of the current fiscal year Aug. 31. In fiscal 1989, the company plans to open additional sites in Corona, Hampton, Va., and Babylon, N.Y.

Price Co. stock closed unchanged at $39 in Thursday trading.