Higher gas prices and sales growth overseas lead the Costco Wholesale Corporation to a 25% increase in quarterly earnings. It earned $299 million for the quarter up to February 28, far more than last year's $239 million for the same period.

Sales rose in the second quarter, up to the extent of $18.74 billion, from $16.84 billion.

A 9% increase to $386 million was recorded by the firm's revenue from membership fees. The food sales were stable, but that of the sporting goods and house wares grew moderately, shared the Chief Financial Officer, Richard Galanti. Maximum revenue was gained out of higher gas prices and favorable currency exchange rates.

BJ's Wholesale Club also witnessed a 5% rise in its profit due to higher gasoline prices. Its profit escalated from $52.7 million, last year to $55.1 million this year. In the fourth quarter of BJ's financial year, the sales escalated to 9%.

Both Costco and its competitor, Massachusetts-based BJ's have stated that the profit and sales trends have become better during the quarter.

Laura Sen, Chief Executive of BJ's said, "In terms of discretionary [spending] it is creeping along, but I don't see any major turnaround".