Costco stock fell 1.4% in after-hours trading on Tuesday following the results. Shares are up 21% year to date.Membership fees, a key revenue stream for the wholesale retailer, came in at $1.51 billion, higher than Wall Street expectations for $1.46 billion. In the third quarter, the company brought in $1.04 billion in membership fee revenue.
Costco last raised membership prices in June 2017, and a Costco Gold Star membership costs $60 per year, while an Executive Membership goes for $120. "And at some point, we will," Galanti added. "But our view right now is that we've got enough leverage out there to drive business, and we feel that it's incumbent upon us to be that beacon of light to our members in terms of holding them for right now."
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Australia Australia Latest News, Australia Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Costco Q4 earnings preview: High gas prices expected to fuel Costco sales, foot trafficCostco's value proposition — especially when it comes to cheap gasoline — continues to bring in customers.
Source: YahooFinanceCA - 🏆 47. / 63 Read more »
Biden & Trump visit UAW strikes, Costco earnings: What To WatchPresident Biden and Former President Trump plan to visit United Auto Workers (UAW) picket lines this week to join the union's strike against Big Three automakers Ford (F), General Motors (GM), and Stellantis (STLA). Costco (COST) is set to report earnings on Tuesday. Lastly, the consumer confidence index for September is expected tomorrow morning. Yahoo Finance Live co-host Jared Blikre details the top stories and economic data investors should watch for tomorrow, Tuesday, September 26. For more expert insight and the latest market action, click here to watch this full episode of Yahoo Finance Live.
Source: YahooFinanceCA - 🏆 47. / 63 Read more »
Costco Q4 earnings beat on both top & bottom linesCostco Wholesale (COST) reported better-than-expected fiscal fourth quarter results. Earnings of $4.86 per share was better than the $4.78 analysts were expecting. Revenue was $78.94 billion, topping estimates of $77.72 billion. Yahoo Finance Live breaks down the retailer's latest quarterly report.
Source: YahooFinanceCA - 🏆 47. / 63 Read more »