Costco Wholesale: Q2 EPS better than expected
(CercleFinance.com) - Costco Wholesale has reported Q2 net income that is up 5% at 931 million dollars (ended 16 February), representing EPS of 2.
10 dollars, which is three cents above the consensus.
The warehouse distributor's sales increased 10.5% to nearly 38.3 billion dollars in published data. On a comparable basis and adjusted for FX and gasoline price effects, sales rose by 7.9%, with a 28% jump in online sales.
"February sales benefited from an uptick in consumer demand in the fourth week of the reporting period. We attribute this to concerns over the Coronavirus," Costco noted, which estimates the positive mpact on sales at around three points.
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10 dollars, which is three cents above the consensus.
The warehouse distributor's sales increased 10.5% to nearly 38.3 billion dollars in published data. On a comparable basis and adjusted for FX and gasoline price effects, sales rose by 7.9%, with a 28% jump in online sales.
"February sales benefited from an uptick in consumer demand in the fourth week of the reporting period. We attribute this to concerns over the Coronavirus," Costco noted, which estimates the positive mpact on sales at around three points.
Copyright (c) 2020 CercleFinance.com. All rights reserved.