Costco's net sales up 6% to $36.24B in Q1

Thursday, 12. December 2019 22:16

Costco Wholesale Corp. announced on Thursday that its net sales in the first quarter of fiscal 2020 stood at $36.24 billion, marking a 6% increase from the same quarter a year ago and missing market estimates. Total revenue rose by 5% to $37 billion in the three-month period.

Diluted earnings per share (EPS) stood at $1.9, up 10% from the $1.73 achieved in the first quarter of 2019, while net income jumped 10% year on year to $844 million. Comparable sales in the fourth quarter climbed 4.3%, with e-commerce sales climbing 5.5%. The retailer noted that total and comparable sales were negatively impacted by approximately 0.5% and e-commerce sales by about 12 percentage points due to Thanksgiving taking place a week later this year.

Costco shares were down 0.4% in after-hours trading on slightly worse-than-expected results.

Related Links: Costco Wholesale Corporation
Breaking the News / NP