Costco misses quarterly estimates as online sales ease

Dow Jones2021-05-28

Costco Wholesale Corp. late Thursday reported lower-than-expected profit and sales for its fiscal third quarter as online sales growth eased.

Costco $(COST)$ said it earned $1.22 billion, or $2.75 a share, in the quarter, compared with $838 million, or $1.89 a share, in the year-ago quarter.

Net sales for the quarter increased 22% to $44.4 billion, from $36.45 billion a year ago.

Analysts polled by FactSet had expected the retailer to report a GAAP profit of $2.32 a share on sales of $44.7 billion.

Same-store sales rose 21%, and online sales rose 41%, the company said. At the height of pandemic-fueled stockpiling, Costco online sales soared, including a 65% jump in the third quarter of 2020.

Shares of Costco fell 0.83% in the extended session after ending the regular trading day up 0.5%, The stock has gained 2.9% so far this year, compared with gains of around 12% for the S&P 500 index .

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

  • AmitS
    2021-05-30
    AmitS
    Humm 
  • Meshaarias72
    2021-05-28
    Meshaarias72
    Like and comment 
  • boonk
    2021-05-28
    boonk
    Buy on dips
    • boonk: 
      Saw in YouTube, USA stock usually up before holidays. Last 2 days seem supporting thus theory.Hope tonight too. Also saw some analyst predict bull for June till july
    • Vivberry: 
      AGreed
  • Slee49
    2021-05-28
    Slee49
    Online sales are extra good during this period 
  • TSENR3
    2021-05-28
    TSENR3
    online sales Will continue to soar. 
    • TSENR3: 
      [得意] [得意] [得意] [得意] [得意]
  • WCS1981
    2021-05-28
    WCS1981
    Will buy some when it drop more[Miser] 
    • TSENR3: 
      Like n follow back pls
Leave a comment
51