Costco: quarterly profit rises on tax benefit
(CercleFinance.com) - Costco Wholesale posted a higher-than-expected quarterly profit on Thursday, partly thanks to a tax benefit related to the new US tax law.
The US warehouse retailer, which has millions of members paying annual fees to access its giant stores, earned 767 million dollars, or 1.73 dollar per share in the fiscal first quarter ended 25 November, compared with 640 million dollars, or 1.45 dollar per share, a year ago.
The consensus was looking for EPS of 1.61 dollar.
Net sales for the first quarter rose by 10% to 34.3 billion dollars, with comparable sales up 8.8%.
The Issaquah, Washington-based group currently operates 768 warehouses, 28 of which are in the UK, two in Spain, one in Iceland and one in France.
Copyright (c) 2018 CercleFinance.com. All rights reserved.
The US warehouse retailer, which has millions of members paying annual fees to access its giant stores, earned 767 million dollars, or 1.73 dollar per share in the fiscal first quarter ended 25 November, compared with 640 million dollars, or 1.45 dollar per share, a year ago.
The consensus was looking for EPS of 1.61 dollar.
Net sales for the first quarter rose by 10% to 34.3 billion dollars, with comparable sales up 8.8%.
The Issaquah, Washington-based group currently operates 768 warehouses, 28 of which are in the UK, two in Spain, one in Iceland and one in France.
Copyright (c) 2018 CercleFinance.com. All rights reserved.