Costco Wholesale 's third-quarter earnings topped Wall Street expectations on Thursday, driven by higher sales and lower-than-expected operating expenses. Even with a recent C-Suite transition, Costco delivered a business-as-usual quarter, as members flocked to its warehouses in search of quality merchandise at value prices. Total revenue in its fiscal 2024 third quarter increased 9.1% year over year to $58.52 billion, beating analysts' expectations of $58.
mountain Costco's five-year stock performance compared with the S & P 500. Costco's inflation update remained encouraging. The company cited similar trends from the previous quarter, with inflation across all core merchandise essentially flat and fresh foods near zero. Meanwhile, slight inflation in food and sundries is being offset by some deflation in non-foods, in particular hardware, sporting goods and furniture.
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