Published: May 25, 2023 at 4:40 p.m. ET
Costco Wholesale Corp.’s stock COST fell 1.5% in after-hours trading on Thursday after the warehouse membership retailer reported lower-than-expected fiscal third-quarter results, with same-store sales in the US falling. The company reported net income of $1.3 billion, or $2.93 per share, compared to $1.35 billion, or $3.04 per share, in the same quarter last year. Revenue rose 1.9% to $52.6 billion compared to $51.61 billion in the year-ago quarter. Same-store sales rose 0.3%, with a 0.1% decline in the US. Analysts polled by FactSet expected Costco to earn $3.29 per share on sales of $54.5 billion and same-store sales…
Costco Wholesale Corp.’s stock COST fell 1.5% in after-hours trading on Thursday after the warehouse membership retailer reported lower-than-expected fiscal third-quarter results, with same-store sales in the US falling. The company reported net income of $1.3 billion, or $2.93 per share, compared to $1.35 billion, or $3.04 per share, in the same quarter last year. Revenue rose 1.9% to $52.6 billion compared to $51.61 billion in the year-ago quarter. Same-store sales rose 0.3%, with a 0.1% decline in the US. Analysts polled by FactSet expected Costco to earn $3.29 per share on sales of $54.5 billion and same-store sales growth of 2.8%.