Net income climbed to $598 million, or $1.35 a share, from $463 million, or $1.05, a year earlier, the Issaquah, Washington-based company said in a statement. The average of 25 analysts’ projections compiled by Bloomberg was $1.18, although that estimate may not have included the impact of a tax benefit.

Costco, which focuses on selling large volumes of goods to its members at low prices, has outperformed Wal-Mart and Target Corp. recently. Sales at Costco stores open a year or more increased 8 percent in the quarter, excluding changes in gasoline prices and foreign-currency exchange rates. In its most recent quarter, Wal-Mart reported a 1.5 percent increase in U.S. same-store sales, while Target posted a 3.2 percent gain.

Costco fell 0.1 percent to $147.17 yesterday in New York. The shares have gained 3.8 percent this year.

Sales in the quarter ended Feb. 15 rose 4.4 percent to $27.5 billion. Revenue from membership fees advanced 5.8 percent to $582 million.

The stronger dollar took a toll on international same-store sales, which fell 2 percent when including the impact of currency fluctuations and gas-price deflation. They rose 8 percent without those effects.