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 .

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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
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