UPDATE 2-Costco plans for 36 new stores, profit misses estimates

Wed Oct 9, 2013 1:11pm EDT
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* Costco earnings per share $1.40 vs Wall Street view $1.46

* Costco Sept same-store sales rise 3 pct including fuel

* Family Dollar profit 86 cents/share; Street view 84 cents

* Family Dollar same-store sales flat vs forecast up 2 pct

* Costco shares up, Family Dollar down 2.6 pct

By Jessica Wohl

Oct 9 (Reuters) - Costco Wholesale Corp investors shrugged off a weaker-than-expected 1.3 percent rise in quarterly profit as the warehouse chain announced plans to open 36 new clubs this fiscal year, including its first two locations in Spain.

Costco shares, which trade at a premium to many other mainstream retailers, were more than 2 percent higher on the Nasdaq at $114.70 at midday on Wednesday after closing at $112.21 on Tuesday.

Discount chain Family Dollar Stores Inc said it was taking a cautious approach to 2014 as its shoppers focused on basics. Its sales missed expectations and it relied on cost cutting to deliver a better-than-expected profit. Family Dollar shares were down 2.3 percent to $67.81.   Continued...