COST - What You Need To Know About Costco's Quarter As Shares Slip | Benzinga
Costco Wholesale Corp (NASDAQ: COST) shares are trading lower Wednesday following the retailer's quarterly results. Several analysts adjusted price targets following the print.
What Happened: Costco said fourth-quarter net sales increased 9.4% year-over-year to $77.43 billion. It's important to note that all year-over-year comparisons include one extra week in the current year: Costco's fiscal fourth-quarter in 2022 spanned 16 weeks and its most recent quarter consisted of 17 weeks.
Total revenues came in at $78.939 billion, which beat the consensus estimate of $77.9 billion. Net sales for the full year came in at $237.71 billion, up 6.7% year-over-year.
The membership-based retailer reported quarterly earnings of $4.86 per ...