COST: Costco Earnings Prove to Be a Mixed Bag

   

COST: Costco Earnings Prove to Be a Mixed Bag

On Thursday, warehouse retailer Costco (COST) reported quarterly earnings that fell short of Wall Street expectations on sales that narrowly topped analysts’ estimates.

coscto store sign 630 flickr 300x225 COST: Costco Earnings Prove to Be a Mixed Bag
Source: Flickr

During its fiscal third quarter, COST said it earned $473 million, up from $459 million in the year-ago period. EPS came in a $1.07, disappointing analysts who had predicted earnings of $1.09 per share, the Wall Street Journal noted.

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Fiscal third quarter revenue of $25.79 billion was up 7.1% year-over-year and slightly exceeded the $25.75 billion that analysts were looking for.

COST said that — adjusting for foreign currency exchange and gas price changes – U.S. same-store sales climbed 5% during the quarter, while overseas same-store sales rose 3%. COST indicated that, before the end of the current fiscal year, it will open eight more stores.

Shares of COST stock gained slightly in Thursday pre-market trading.

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