When Costco Wholesale Corp. (NASDAQ: COST) released its fiscal fourth-quarter financial results after the markets closed on Thursday, the membership club giant said that it had $2.47 in earnings per share (EPS) and $47.50 billion in revenue. The consensus estimates had called for $2.54 in EPS and $47.57 billion in revenue, and in the same period of last year it said it had EPS of $2.36 on $44.41 billion in revenue.
During the latest quarter, net sales increased 7.0% year over year while membership fees increased 5.3%.
Comparable sales increased 5.1% on a companywide basis, driven by: U.S. comparable sales increasing 6.2%; Canada comparable sales increasing 2.6%; other international comparable sales increasing 1.9%; and e-commerce comparable sales increased 19.8%.
This year’s fourth quarter was negatively affected by a $123 million pretax reserve to SG&A ($96 million after tax), or 22 cents per diluted share, related to a product tax assessment.
Costco currently operates 783 warehouses, including 544 in the United States and Puerto Rico, 100 in Canada, 39 in Mexico, 29 in the United Kingdom, 26 in Japan, 16 in Korea, 13 in Taiwan, 11 in Australia, two in Spain, one in France, one in Iceland and one in China. Costco also operates e-commerce websites in the United States, Canada, the United Kingdom, Mexico, Korea and Taiwan.
The company offered no guidance for the fiscal first quarter. However, consensus estimates call for $1.71 in EPS and $37.37 billion in revenue.
Excluding Friday’s move, Costco had outperformed the broad markets, with the stock up about 42% year to date. In the past 52 weeks, the stock was up 22%.
Shares of Costco traded down about 1.5% early Friday to $284.64, in a 52-week range of $189.51 to $307.34. The consensus price target is $292.50.
The Average American Is Losing Their Savings Every Day (Sponsor)
If you’re like many Americans and keep your money ‘safe’ in a checking or savings account, think again. The average yield on a savings account is a paltry .4% today, and inflation is much higher. Checking accounts are even worse.
Every day you don’t move to a high-yield savings account that beats inflation, you lose more and more value.
But there is good news. To win qualified customers, some accounts are paying 9-10x this national average. That’s an incredible way to keep your money safe, and get paid at the same time. Our top pick for high yield savings accounts includes other one time cash bonuses, and is FDIC insured.
Click here to see how much more you could be earning on your savings today. It takes just a few minutes and your money could be working for you.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
