Price Co., the San Diego-based operator of 42 Price Club cash-and-carry discount warehouses, announced a 13.7% increase in third quarter profit and a 15.3% increase in sales. Profit for the three months was $21 million on sales of $1.1 billion, contrasted with a $19-million profit on sales of $942 million over the same quarter the prior year.
Sales at stores open a year or more were up 10.2% during the quarter and 13.6% over the first nine months ended June 4 of the fiscal year.
For its first three quarters this year, Price reported a profit of $86 million, up 21.2% from the $71 million reported last year. Year-to-date sales stand at $3.7 billion, up 20.2% from the $3.1 billion for the same period the previous year.