Costco Wholesale ‘s earnings and sales trumped Wall Street’s forecasts for its fiscal fourth quarter.
Shares of Costco wavered around the break-even level in after-hours trading Tuesday, as analysts waited for the company’s call with analysts, scheduled for 5 p.m. Eastern. The quarterly results might not be enough to move the stock, but news about a potential increase in membership fees would do the trick, analysts said ahead of the report.The company is scheduled to report its earnings for its fourth fiscal quarter, the three months through the end of August, after the market closes on Tuesday.
READ MORe Comparable-store sales have also been in a bit of a slump, decelerating steadily over the course of the past four quarters in what Evercore ISI analyst Greg Melich called “a year of the lowest comps since 2017.” Comparable-store sales rose by 14.9% in the quarter ending May 2022 but by that month this year, the gain was only 3.5%. They are expected to rise by the same amount this quarter, according to FactSet.