CHICAGO (MarketWatch) — Costco Wholesale Corp. posted an 18% increase in fiscal first-quarter profit, buoyed by rising gasoline prices and strong international growth, the warehouse retail chain said Wednesday.

For leading a triumphant surge to the top of the tech world, developing game-changing computers and devices and unleashing a stellar return for investors, Steve Jobs is MarketWatch's CEO of the Decade. For 2010, Ford CEO Alan Mulally easily beat the competition to win the MarketWatch CEO of the Year award, in a resounding show of support from readers for his resilience in the face of the automobile industry’s historic crisis. • See the full special report • Jobs: Rock star of Corporate America • Why Apple's Steve Jobs got the nod • Ford's Mulally keeps the faith, leads the pack • Amazon: Jeff Bezos • Google: Eric Schmidt • Starbucks: Howard Schultz • Cummins: Tim Solso • CEO of the Decade finalists in pictures • Apple’s Steve Jobs: A decade in pictures • Ford’s Alan Mulally: A year in pictures • Schmidt helps Google grow up • Amazon's Bezos is dazzlingly defiant • Starbucks reborn after Schultz's return • Cummins's Solso revs the engines

Issaquah, Wash.-based Costco  said it earned $312 million, or 71 cents a share, in the period, up from $266 million, or 60 cents a share, in the same quarter a year ago payday loans.

Net sales rose 11% to $18.82 billion, while same-store sales, those at outlets open at least a year, increased 7%.

On average, analysts polled by FactSet Research had expected the company to earn 69 cents a share on sales of $20.59 billion.

Shares of Costco were essentially flat in early action.

“International comparisons benefited from currency and the U.S. business strengthened as the quarter progressed,” wrote Brian Sozzi of Wall Street Strategies. “In the U.S., Costco was exposed to an improved consumer spending environment, translating to increased sales of bulk items in sundries and fresh food and better sales trends in discretionary areas of the store, such as in apparel.”

By all accounts, he added, “Black Friday and the weekend were strong for Costco as consumers bought doorbusters (Costco has perhaps the best return policy in the business) and again, stocked the pantry for holiday festivities.”

Costco posts 18% jump in quarterly profit