Investing.com - Financial Markets Worldwide
Join +750K new investors every month who copy stock picks from billionaire's portfoliosSign Up Free

UPDATE 1-Costco comparable-store sales fall 1 pct, revenue misses estimates

Published 2015-09-29, 09:43 p/m
© Reuters. UPDATE 1-Costco comparable-store sales fall 1 pct, revenue misses estimates
COST
-

(Adds estimates, details from statement, share's closing price)
Sept 29 (Reuters) - Costco Wholesale Corp COST.O reported
a fall in comparable-store sales for a second straight quarter
and lower-than-expected revenue as a stronger dollar reduced the
value of sales from overseas markets.
Comparable sales, including fuel and foreign currency
impacts, fell 1 percent in the fiscal fourth quarter ended Aug.
30. Analysts polled by research firm Consensus Metrix had
expected a drop of 1 percent.
Costco gets almost 30 percent of revenue from outside the
United States.
The dollar had risen about 16 percent against a basket of
currencies in the 12 months through Aug. 30.
Excluding fuel and foreign exchange impact, comparable-store
sales rose 6 percent, matching the growth expected by analysts
polled by research firm Consensus Metrix.
Net income attributable to Costco rose 10 percent to $767
million, or $1.73 per share, in the quarter, from $697 million,
or $1.58 per share, a year earlier.
The company, whose markets include Canada and Japan, said
revenue rose marginally to $35.78 billion during the quarter.
Analysts on average had expected earnings of $1.66 per share
on revenue of $36.21 billion, according to Thomson Reuters.
Costco's shares closed at $143.72 on Tuesday. Issaquah,
Washington-based company's stock had risen nearly 5 percent this
year.

Latest comments

Install Our App
Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.