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Costco On Thursday, it missed Wall Street's revenue expectations for the holiday quarter, despite reporting year-over-year sales growth and strong e-commerce gains.
The retailer's shares fell about 4% in aftermarket trading. The retailer's stock had reached a 52-week high earlier in the day.
The company provided few details on its quarterly performance in a press release, but will hold a conference call with investors at 5 p.m. ET.
Here's what the retailer reported for its fiscal second quarter of 2024 compared to what Wall Street was expecting, based on a survey of analysts conducted by LSEG, formerly known as Refinitiv:
EPS: $3.92 vs. $3.62 expected Revenue: $58.44 billion vs. $59.16 billion expected
In the three-month period ended February 18, Costco's net income rose to $1.74 billion, or $3.92 per share, compared with $1.47 billion, or $3.30 per share, a year earlier.
Costco's revenue for the quarter was up from $55.27 billion in the same period last year.
The company's comparable sales were up 5.6% year over year and 4.3% in the US. Excluding changes in gas prices and foreign currencies, the measure rose 5.8% overall and 4.8% in the United States.
E-commerce sales grew 18.4% in the quarter compared to the previous year.
Costco has 875 warehouses, including 603 in the United States and Puerto Rico. It also has clubs in about a dozen other countries, including Canada, Mexico, Japan and China.
As of Thursday's close, Costco shares were up nearly 19% year-to-date. The stock hit a 52-week high of $787.08 earlier in the day and closed at $785.59, pushing the company's market cap to nearly $350 billion.
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