WMT - Costco Continues To Show Its Business Excellence And Resilience | Benzinga
On Thursday, Costco Wholesale Corporation (NASDAQ: COST) topped revenue and earnings estimates, as it increased both ts sales and market share by maintaining low prices of basic items. Costco joined its U.S. retail peers like Amazon.com (NASDAQ: AMZN) and Foot Locker Inc (NYSE: FL) in reporting a strong start of the holiday season.
Fiscal 2024 First Quarter Highlights
Costco reported revenue rose 6% YoY to $57.8 billion, topping Bloomberg’s estimate of $57.71 billion. Adjusted earnings per share amounted to $3.58, topping Wall Street’s estimates of $3.41 as net income significantly rose, rising from last year’s comparable quarter when Costco earned $1.36 billion to $1.589 billion.
Although total same-store sales rose 3.8%, they were below the expected 4.3% as they were dragged down by the U.S. with the region growing 2%, compared to the expected 2.77%. E-commerce sales grew 6.3%, topping Bloomberg’s estimate of 6.1%.
During the ...