Costco (COST): FQ2 EPS of $1.24. Revenue of $24.34B (+8% Y/Y) misses by $0.79B. FQ2: net profit +39% to $547M, boosted by a $62M ($0.14/share) tax benefit. Comparable sales +5%, with U.S. +5%, international +6%. Excluding positive impact of forex and gasoline prices, comparable sales +5%, U.S. +5%, international +4%. Operates 622 warehouses, plans to open another 14 by end of FY.