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To: Sam Citron who wrote (103903)	5/24/2000 12:09:00 PM
From: H James Morris	Read Replies (1) \| Respond to of 164684

Sam, I still own Costco stock.:-( I just bought some on the dip @ 26 1/4...because I think its gone down too far. Those earnings aren't that bad... at least they're real earnings >Issaquah, Washington, May 24 (Bloomberg) -- Costco Wholesale Corp. Chief Financial Officer Richard Galanti said a mishap prevented the public release of the retail chain's fiscal third- quarter earnings. On a conference call with analysts and investors, Galanti said the earnings release did not get sent to the public through the company's business wire at 2 a.m. West Coast time, as scheduled. The earnings statement was supposed to be released to the public at the same time a ``blast fax'' for 300 professionals was scheduled to be sent, Galanti said. The company faxes earnings results directly to those professionals, he said. ``We will find out why that did not occur,'' he said. ``There has been no selective disclosure from our part.'' Business Wire officials said the problem with the earnings release is being investigated. Costco, the biggest U.S. warehouse club chain, said net income for the quarter ended May 7 rose 14 percent to $120.3 million, or 26 cents a share. Per-share profit was a penny less than the 27-cent average estimate of analysts polled by First Call/Thomson Financial. Sales rose 14 percent to $6.77 billion. The company also warned that fiscal fourth-quarter profit will be 1 cent to 2 cents below the average First Call estimate of 45 cents a share. Earnings next year will rise 11 percent to 13 percent, below Wall Street's forecast for 16 percent growth. Shares of Costco fell 11 17/32, or 28 percent, to 29 3/32 in late morning trading. Earlier, the stock dropped as much as 36 percent to 25 15/16. May/24/2000 11:29 ET