Topics

Posted 9/26/2023, 8:34:11 PM

Costco Tops Earnings Expectations Despite Slowing Sales Growth

Costco reported fiscal Q4 earnings and revenue that beat expectations, even as sales remained soft.
Comparable sales rose just 1.1% overall and 0.2% in the U.S. as customers made more trips but spent less per visit.
Costco ended the quarter with 71M paid members, up nearly 8% YoY, driven by growth in higher-tier Executive memberships.
Grocery sales drove growth, while big-ticket discretionary items softened. E-commerce sales fell 0.8% YoY.
Costco plans to open 10 new warehouses in the next 3 months, ending fiscal year with 23 net new locations.

cnbc.com

Relevant topic timeline:

8/29/2023

One part of China’s consumer market is holding up against a broad slowdown

Costco stores in China are experiencing high foot traffic and strong sales, contrasting with slower retail sales growth in the country, as foreign brands continue to expand and target the premium market. However, economic uncertainty and a decline in ad spending raise concerns about China's future growth.

8/30/2023

Stocks making the biggest moves after hours: Salesforce, Okta, CrowdStrike, Five Below and more

Salesforce, CrowdStrike, Okta, Five Below, and Pure Storage beat second-quarter expectations, resulting in stock price increases, while Victoria's Secret and Chewy fell short of expectations and experienced stock price declines, and Costco Wholesale reported positive net sales for August.

8/30/2023

Costco Same-Store Sales Rise. U.S. Market Was the Weakest.

Costco's same-store sales increased due to strong performances outside of the US, with the US market being the weakest.

9/8/2023

Costco's Global Expansion Reaches 859 Stores Worldwide, But U.S. Remains Company's Biggest Market

Costco is a global retail chain with 859 locations worldwide, with the majority of stores in the U.S., Canada, Mexico, and Japan, and is expanding in countries like China, Sweden, and New Zealand.

9/25/2023

Costco's Value Proposition Drives Sales Growth Amid Inflation Worries

Wholesale retail giant Costco is expected to win over consumers with its cheap gas prices as it reports quarterly results, with same-store sales growth expected to rise and e-commerce sales predicted to increase by 5%.

9/27/2023

Costco Earnings Beat Expectations Despite Holding Off on Fee Hike

Costco Wholesale's earnings report receives positive feedback from Wall Street analysts despite initial investor concerns about the lack of a membership fee increase.

9/27/2023

Cramer Praises 'Beautiful Quarter' for Costco as Shares Rise on Earnings Beat

Costco's business is strong with decreasing inflation and minimal inventory losses, leading to a rise in its stock's year-to-date gains and increased price targets from Wall Street firms.

9/27/2023

Costco Earnings Beat Expectations But Wage Inflation Clouds Outlook

Costco's earnings beat expectations, but concerns remain about wage inflation and sales weakness, although the company is still performing well and is considered recession-proof.

9/29/2023

Costco Planning First Membership Price Hike Since 2017

Costco shoppers may soon face an increase in yearly membership prices, as suggested by the company's CFO Richard Galanti during an earnings call; however, no further details were provided regarding the timing of the price hike.

10/4/2023

Costco Sales Jump in September with Boosts from Gas Prices and E-commerce

Costco Wholesale had a strong start to its first fiscal quarter, aided by lower gas prices.

10/9/2023

Costco's Winning Strategy of Value and Loyalty Drives Steady Growth, But High Valuation Raises Some Concerns

Costco Wholesale is a high-quality company with a high valuation, but its business model, strong performance, and potential for growth make it a compelling investment choice despite its high price.

Topics

Posted 9/26/2023, 8:34:11 PM

Costco Tops Earnings Expectations Despite Slowing Sales Growth

Costco reported fiscal Q4 earnings and revenue that beat expectations, even as sales remained soft.
Comparable sales rose just 1.1% overall and 0.2% in the U.S. as customers made more trips but spent less per visit.
Costco ended the quarter with 71M paid members, up nearly 8% YoY, driven by growth in higher-tier Executive memberships.
Grocery sales drove growth, while big-ticket discretionary items softened. E-commerce sales fell 0.8% YoY.
Costco plans to open 10 new warehouses in the next 3 months, ending fiscal year with 23 net new locations.

cnbc.com

Relevant topic timeline:

8/29/2023

One part of China’s consumer market is holding up against a broad slowdown

8/30/2023

Stocks making the biggest moves after hours: Salesforce, Okta, CrowdStrike, Five Below and more

8/30/2023

Costco Same-Store Sales Rise. U.S. Market Was the Weakest.

Costco's same-store sales increased due to strong performances outside of the US, with the US market being the weakest.

9/8/2023

Costco's Global Expansion Reaches 859 Stores Worldwide, But U.S. Remains Company's Biggest Market

Costco is a global retail chain with 859 locations worldwide, with the majority of stores in the U.S., Canada, Mexico, and Japan, and is expanding in countries like China, Sweden, and New Zealand.

9/25/2023

Costco's Value Proposition Drives Sales Growth Amid Inflation Worries

9/27/2023

Costco Earnings Beat Expectations Despite Holding Off on Fee Hike

Costco Wholesale's earnings report receives positive feedback from Wall Street analysts despite initial investor concerns about the lack of a membership fee increase.

9/27/2023

Cramer Praises 'Beautiful Quarter' for Costco as Shares Rise on Earnings Beat

Costco's business is strong with decreasing inflation and minimal inventory losses, leading to a rise in its stock's year-to-date gains and increased price targets from Wall Street firms.

9/27/2023

Costco Earnings Beat Expectations But Wage Inflation Clouds Outlook

Costco's earnings beat expectations, but concerns remain about wage inflation and sales weakness, although the company is still performing well and is considered recession-proof.

9/29/2023

Costco Planning First Membership Price Hike Since 2017

10/4/2023

Costco Sales Jump in September with Boosts from Gas Prices and E-commerce

Costco Wholesale had a strong start to its first fiscal quarter, aided by lower gas prices.

10/9/2023

Costco's Winning Strategy of Value and Loyalty Drives Steady Growth, But High Valuation Raises Some Concerns

Costco Wholesale is a high-quality company with a high valuation, but its business model, strong performance, and potential for growth make it a compelling investment choice despite its high price.