Costco Wholesale 4Q Earnings, Profit Expected to Rise — Earnings Preview
By Sabela Ojea
Costco Wholesale is scheduled to report earnings for its fiscal fourth quarter after the market close Thursday. Here's what you need to know:
--PROFIT: The wholesale retailer is expected to post earnings of $5.08 a share, according to FactSet. This compares with reported earnings per share of $4.86 for the same period a year earlier.
--REVENUE: Costco is forecast to report quarterly revenue of $79.91 billion, according to FactSet. This compares with reported revenue of $78.94 billion for the year-ago period.
The stock has increased around 5% over the past three months.
WHAT TO WATCH:
--Look for comments around Costco's pricing strategy and whether it has already boosted the company's top line. The company in July raised its membership fees for the first time since 2017, less than four months after Gary Millerchip assumed the finance chief position.
--Take a close look at Costco's online performance, which in the latest quarter lifted the company's overall results with a 21% year-over-year increase. Millerchip in May said the company is enhancing its app and website.
--Check Costco's commentary around inflation and spending behavior among its consumers. At Costco's most recent earnings call, Millerchip said its members were returning to purchasing more discretionary items, with growth in the category being led by toys, tires, lawn and garden, and health and beauty.
Write to Emon Reiser at emon.reiser@wsj.com
(END) Dow Jones Newswires
September 25, 2024 09:17 ET (13:17 GMT)
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