Costco November US Core Comps Fall Short, But Trends Overall Consistent: Analyst

Benzinga_recent_news12-05 02:11

Costco Wholesale Corp. (NASDAQ:COST) is facing new scrutiny after its November U.S. core sales came in softer than expected, signaling a rare cooling in the retailer’s multi-month momentum and raising...

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For December, JPMorgan models total company core comps around +5.8%.\nOn items to monitor, he flags cannibalization holding at ~60 bps and the gold bar tailwind cooling from September’s elevated lift as comparisons tightened. Costco also began reporting a broader metric, total comps excluding all gas and FX, which came in at +7.0% for November.\nHorvers’ $1,025 target is built on a 47x P/E applied to his fiscal 2027 estimates, reflecting Costco’s share gains, resilient traffic, and incremental upside from emerging advertising. His forecasts call for fiscal 2026 adjusted EPS of $19.94 and fiscal 2027 of $21.70.\nIn other major news for the company, Costco has filed a lawsuit in the U.S. Court of International Trade seeking a full refund of tariffs paid under the Trump administration’s IEEPA-based “emergency” tariffs.\nThe company argues that the duties are unlawful and states that refund eligibility is not automatic, even if the Supreme Court ultimately rejects the tariff authority, prompting Costco to act now to protect potential recoveries.\nAccording to Benzinga Pro, Treasury Secretary Scott Bessent questioned what refund could apply to the company if foreign suppliers had already reduced pre-tariff prices, and that price cuts complicate efforts to calculate reimbursements.\nRounding out the Street view, Telsey Advisory Group analyst Joseph Feldman also stays constructive, reiterating an Outperform rating and maintaining a $1,100 price target.\nCOST Price Action: Costco Wholesale shares were down 3.26% at $892.21 at the time of publication on Thursday, according to Benzinga Pro data.\nRead Next:\nImage by Steve Travelguide via Shutterstock","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"-1","news_tag":"","news_rank":0,"symbols":[],"gpt_button":0,"need_auth":false,"code":"91000000","status":"200"},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.35.9","shortVersion":"4.35.9","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2589831987","isCrawlerRequest":true}