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."
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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...
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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.
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