Despite Economy, Costco Manages Impressive Sales Gains (COST)

Companies and Brands

Published: October 8, 2008 7:34 am

Last Updated: April 27, 2020 8:07 pm

Costco Wholesale Corp. (NASDAQ: COST) is trading down over 1% pre-market, yet the upper-end big box retailer posted some very strong numbers. The company reported earnings of $0.97 per share before $0.07 worth of charges. First Call estimates were for profit of $0.93. Its net sales were $22.6 billion excluding membership fees. Costco also posted September same store sales at +7% with a total sales gain of 10% for the month. It is still growing members as its membership fees rose to $473.7 million from $388.2 million in the same quarter in 2007.

As noted, shares are indicated slightly lower than its $57.80 close. In today’s economy, this report was solid.Its 52-week trading range is $57.05 to $75.23. Despite hard times,this stock should have already started pricing in much of the currentmarket woes and a slower consumer.

Jon C. Ogg
October 8, 2008

Cash Back Credit Cards Have Never Been This Good

Credit card companies are at war, handing out free rewards and benefits to win the best customers. A good cash back card can be worth thousands of dollars a year in free money, not to mention other perks like travel, insurance, and access to fancy lounges. See our top picks for the best credit cards today. You won’t want to miss some of these offers.

Flywheel Publishing has partnered with CardRatings for our coverage of credit card products. Flywheel Publishing and CardRatings may receive a commission from card issuers.