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Costco Tops Q4 Estimates, Shares Rise

Costco (NASDAQ:COST) announced on Wednesday that it earned $609 million during its fiscal fourth quarter, up from $478 million in the same period last year. EPS was $1.39, which easily beat the $1.31 that analysts were expecting, the Associated Press noted.

The discount retailer posted revenue of $32.22 billion for the quarter, up 14% from $28.18 in 2011, and topping the $31.59 billion that Wall Street had forecast.

Shares of Costco rose more than 4% in Wednesday morning trading.

For the year, Costco posted a profit of $1.71 billion, up 17% from $1.46 billion last year. EPS for the year was $3.89. Revenue increased 12% compared to last year, rising to $99.14 billion.

Costco currently operates 608 warehouse stores, 439 of which are located in the U.S.

The company noted that same-store sales at locations open at least twelve months rose 5% over last year. U.S. stores posted a 6% sales increase over last year, while international stores saw only a 2% sales rise due to a rising U.S. dollar.

Controlling for currency exchange rates, international stores saw a 7% sales gain.

Article printed from InvestorPlace Media, https://investorplace.com/2012/10/costco-tops-q4-estimates-shares-rise/.

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