Costco 23Q1: A Black "Black Friday"
After the session on December 8th,$Costco(COST)$It also announced the Q1 financial report of fiscal year 2023 as of the end of November 20, 2022. Both revenue and profit fell short of expectations, but the market did not give a strong reaction.
As early as 8 days ago, when COST announced the sales situation in November, the market had already given enough response, and fell 6.6% that day. Because the sales in November only increased by 4.3% year-on-year, which was not as good as the market expected to increase by 7.7%. Among them, oil and other energy products naturally contributed the most year-on-year, while food products were better, at least with positive growth. Other products, which are not food products, have experienced negative growth.
This means that this Black Five is really not selling well.
COST's Q3 financial report showed that revenue increased by 8.1% year-on-year to US $53.44 billion, lower than the expected US $54.68 billion, and EPS was US $3.1, lower than the market expectation of US $3.12.
In addition, the company's same-store sales increased by 6.6% year-on-year, which was lower than the market expectation of 6.87%. The growth rate of gasoline removal is 6.5%, which is also lower than the expected 6.58%. This is also the first time since Q2 2021 that it has fallen short of expectations.
The impact of inflation is finally beginning to show. This also makes investors worry more about similar retailers and other optional consumer goods.$Wal-Mart(WMT)$$Target(TGT)$$Macy's(M)$
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