Is Costco Set to Move Higher Post-Earnings?
T = Trends for a Stock’s Movement
Costco is engaged in the operation of membership warehouses in the United States and Puerto Rico, Canada, the United Kingdom, Mexico, Japan, Australia, and through majority-owned subsidiaries in Taiwan and Korea. The company’s depots receive container-based shipments from manufacturers and reallocate these goods for shipment to its individual warehouses, generally in less than 24 hours. Costco’s typical warehouse format averages approximately 143,000 square feet, where many products are offered for sale in case, carton, or multiple-pack quantities only.
On Tuesday morning, Costco reported earnings per share of $1.40, missing by 6 cents, with revenue of $31.77 billion, as its net profit grew 1.3 percent to $617 million. Comparable sales rose 5 percent, with the U.S. up 5 percent and international up 4 percent (7 percent excluding foreign exchange.) Membership fees grew 3.2 percent, to $716 million. Costco hopes to open 11 new warehouses before the end of the calendar year.