Costco stock lower following Q4 earnings, cautious consumer outlook

shares moved lower in early Wednesday trading following the bulk retailer's stronger-than-expected fourth quarter earnings and solid membership sales.

Group net sales, Costco said, rose 9.5% to $78.94 billion, again topping analysts' forecasts of a $77.9 billion tally. Membership fees rose 13.7% to $1.509 billion. The group's overall gross margin was up 0.42% to 10.6%. Average daily transaction were down 3.9% in the U.S., and 4.5% worldwide over the quarter, Costco said, thanks in part to"weakness in bigger ticket nonfood discretionary items, as well as the gas price deflation."

Nigeria Nigeria Latest News, Nigeria Nigeria Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Costco earnings top Wall Street estimates, but stock fallsCostco Wholesale Corp. shares slipped in the extended session Tuesday even after the membership warehouse chain reported quarterly results that topped Wall...
Source: MarketWatch - 🏆 3. / 97 Read more »

Costco earnings top Wall Street estimatesCostco Wholesale Corp. shares slipped in the extended session Tuesday even after the membership warehouse chain reported quarterly results that topped Wall...
Source: MarketWatch - 🏆 3. / 97 Read more »

Costco earnings: Can the retailer keep rolling as analysts speculate on membership-fee hike?Costco Wholesale Corp. reports fiscal fourth-quarter results after the close on Tuesday.
Source: MarketWatch - 🏆 3. / 97 Read more »

Costco earnings, United Natural Foods, new home sales: 3 things to watch By Investing.comCostco earnings, United Natural Foods, new home sales: 3 things to watch
Source: Investingcom - 🏆 450. / 53 Read more »

Costco tops quarterly earnings expectations, even as sales remain softCostco topped quarterly earnings and revenue expectations, even as sales trends at the membership club slowed.
Source: NBCLA - 🏆 319. / 59 Read more »