Retailer Costco Wholesale Corporation
Here are the key highlights.
What Happened: Costco reported total revenue of $58.44 billion in the second quarter, which missed a Street consensus estimate of $59.16 billion, according to data from Benzinga Pro.
The company reported net sales of $57.33 billion, which were up 5.7% year-over-year. The company said the net sales were impacted by the shift of the fiscal calendar.
Costco reported earnings per share of $3.92 in the second quarter, which beat a Street consensus estimate of $3.61.
Comparable sales for the second quarter were as follow:
U.S: +4.8%
Canada: +9.0%
Other International: +8.2%
Total Company: +5.8%
E-commerce: +18.2%
The company ended the second quarter with 872 warehouses across multiple countries, including 603 in the United States and Puerto Rico.
What's Next: Costco reported that four-week sales for the period ending March 3, 2024 were $18.21 billion, up 6.9% year-over-year
COST Price Action: Costco shares are down 4.26% to $752.14 in after-hours trading Thursday versus a 52-week trading range of $456.42 and $787.05. Shares hit a new 52-week high in intraday trading Thursday.
