Costco 2nd-Quarter Profit Falls 5.4%

Costco Wholesale Corp. said its fiscal second-quarter earnings fell 5.4% because employee insurance costs increased and sales growth slowed.

Second-quarter net income fell to $182.1 million, or 39 cents a share, from $192.6 million, or 41 cents, a year earlier. Revenue rose7.8% to $10.1 billion in the three months ended Feb. 16, Costco said.

Costco shares fell 55 cents to $28.75 on Nasdaq.