Costco results miss expectations, as U.S. same-store sales decline
Shares of Costco Wholesale Corp. (COST) fell 1.5% after hours on Thursday after the membership warehouse retailer reported fiscal third-quarter results that missed expectations, with a same-store sales decline in the U.S. The company reported net income of $1.3 billion, or $2.93 a share, compared with $1.35 billion, or $3.04 a share, in the same quarter last year. Sales rose 1.9% to $52.6 billion, compared with $51.61 billion in the prior-year quarter. Same-store sales rose 0.3%, with a 0.1% dip in the U.S. Analysts polled by FactSet expected Costco to earn $3.29 a share, on revenue of $54.5 billion and same-store sales growth of 2.8%.
-Bill Peters
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May 25, 2023 16:40 ET (20:40 GMT)
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