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.

Costco store sign
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.

5 Stocks With Superb Earnings Surprises — OSTK REGI BRE FTEK DLR
5 Stocks With Superb Earnings Surprises — OSTK REGI BRE FTEK DLR

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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