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Costco Outperforms Expectations with Strong Q4 Earnings
Costco Outperforms Expectations with Strong Q4 Earnings
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Costco (COST -2.92%) delivered a robust fiscal fourth-quarter performance, surpassing revenue and earnings estimates. The retailer reported an 8% year-over-year revenue increase to $86.2 billion, edging past the $86.1 billion consensus. Comparable sales, adjusted for currency and fuel, ROSE 6.4%—outpacing the expected 5.9% growth.
Earnings per share climbed 11% to $5.87, beating forecasts of $5.81. Gross margins expanded by 13 basis points to 11.13%, while membership income surged 14% on the back of a fee hike and a 6.3% rise in paid memberships to 81 million. Costco's warehouse expansion strategy is fueling sales of high-ticket discretionary items, further differentiating it from peers.
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