2024-06-10 20:51:32 ET
Summary
- Costco surpasses revenue and earnings expectations, with net sales of $58.52 billion and a 9.1% YoY growth.
- Comparable store sales jumped 6%, with international markets showing stronger growth than the US.
- Initiating coverage with a cautious Buy based on Costco healthy financials, strong management team, and corporate strategy. However, near-term volatility is possible due to the stock at all-time highs.
- My analysis specializes in identifying companies that are experiencing growth at a reasonable price. Rating systems don't consider time horizons or investment strategies. My articles aim to inform, not to make decisions.
Investment Thesis
Costco ( COST ) delivered a robust performance in its fiscal third quarter , surpassing analysts' expectations on both revenue and earnings. The warehouse giant reported net sales of $58.52 billion, exceeding estimates of $57.98 billion. This translates to a 9.1% YoY, showcasing continued customer demand for Costco's bulk offerings....
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A Long-Term Play: Why Costco Is Poised For Growth, Cautious Buy