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For the quarter, the warehouse club posted earnings of $1.77 a share, up $0.04 or 2% over the same period in 2015. The number was hurt by foreign currency exchange and gas prices. "Our profits from gasoline during the quarter as compared to last year's fourth quarter were lower by about $27 million pre-tax or $0.04 a share, primarily a function of last year's very strong profit results in the fourth quarter," he said. Gas prices being lower also hurt comparable-stores sales which were flat year over year. Membership fees were strong The CFO noted that membership fees were a source of growth. The company reported $832 million in revenue from memberships, up $47 million or 6% from the previous year. Galanti credited strong renewal rates with driving those numbers. We continue to enjoy strong renewal rates, 90% in the U.S. and Canada and 88% worldwide, continuing increasing penetration of executive memberships as well. In terms of number of members at fourth quarter and year end, at year end, we had 36.8 million Gold Star members, up from 36.2 million 16 weeks earlier at the end of the third quarter. Primary Business ticked up to 7.3 million from 7.2 million.
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As many as 5,000 IS fighters are believed to remain in Mosul. Battle must navigate ethnic rivalries Government troops, moving in from the south, are currently some 40km (24 miles) from the city, while Kurdish fighters are some 30km to the east. Aid agencies are bracing themselves for what they say could be the largest man-made humanitarian crisis of recent times. How big is the threat to Europe? Julian King, a British diplomat recently made the EU's security commissioner, told Die Welt (in German) that the threat of IS fighters returning to Europe after the fall of Mosul was "very serious". There were currently about 2,500 fighters from EU countries in the combat zones, he said. However, he stressed that it was "very unlikely that there would be a mass exodus of IS fighters to Europe". Similar cases in the past had shown, he said, that "only a few fighters come back". "I don't want to talk the risk down," he added. "Even a small number constitutes a threat." Is so-called Islamic State finished?