The warehouse store said earnings rose to $478 million, or $1.08 per share, from $432 million, or $0.97 per share, in last year's fourth quarter.
Results were a couple cents behind analyst forecasts, although they included a $0.04 per share inventory charge.
Net sales rose 17%, to $27.59 billion.
Same-store sales rose 12% overall in the fourth quarter, or 10% in the U.S. and 19% internationally.
Costco said it plans to increase annual membership fees as of November 1. A basic membership fee in the U.S., for example, will go from $55 to $60.
In addition to competing with traditional discount retailers like Walmart (NYSE:WMT) and Target (NYSE:TGT), Costco competes with other warehouse retailers including Walmart's Sam's Club as well as BJ's Wholesale Club, which was officially acquired earlier in the week by Leonard Green & Partners and CVC Capital Partners.
For MarketNewsVideo.com, I'm Tracey Fitzpatrick.
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