Costco beats Q1 earnings estimates with a potential membership fee hike looming Yahoo Finance | Makemetechie.com Summary
News Summary
- same-store sales growth: 2.0% versus 2.77% expectedCanada same-store sales growth: 6.4% versus 5.27% expectedOther international: 11.2% versus 9.24% expectedE-commerce sales growth: 6.30% versus 6.10% expectedDuring the quarter, the company sold over $100 million worth of 1 oz..
- "Here's what Costco reported in its fiscal first quarter versus Wall Street estimates, according to Bloomberg data:Net sales: $57.8 billion versus $57.71 billion expectedAdjusted EPS: $3.58 versus $3.41 expectedSame-store sales growth: 3.8% versus 4.30% expectedU.S..
- Revenue came in at $57.8 billion, up 6% year over year, compared to expectations of $57.71 billion, per Bloomberg data.Same-store sales, excluding gas and foreign exchange, came in lower than expected, dragged down by its performance in the US..
- "For you last-minute shoppers out there, there is a Mickey Mantle autographed 1951 rookie card in nearly perfect condition and it's on sale online for $250,000," Galanti said.Costco's app was downloaded 2.75 million times during the quarter and now has 30.5 million users, a 10% increase year over year..
- In the fourth quarter of fiscal 2023, the company brought in $1.51 billion in membership fee revenue.While there was no indication of a price hike yet, it could happen soon.The company raises prices every five years and seven months on average..
- Canada beat estimates with a 6.4% same-store sales growth, while international stores also reported a higher-than-expected increase of 11.2%.Costco shares rose nearly 5% in midday trading Friday.CFO Richard Galanti said foot traffic is something the team is "happily surprised" about, building on momentum gained during the pandemic..
Costco (COST) sported some bulkedup earnings for its fiscal 2024 Q1 results.For the quarter, Costco reported adjusted earnings per share of $3.58, higher than Wall Street expectations of $3.41. Re [+6080 chars]
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