Costco Wholesale Corporation

Costco Wholesale Corporation NASDAQ
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Important events

May 272022

Costco can forget wholesale gains

Costco manages to weather the retail storm with its earnings, but outlooks are still iffy.

  • COST managed to trade in the red during extended trading on Thursday, despite comfortably matching estimates for Q3. The wholesaler reported EPS of $3.04 (in line with expectations) on revenues that were up 16% to $52.6bn. What may have spooked some is its fall in sales – store purchases fell 1% short of the projected 11.8% on Wall St.
  • Costco is quietly outperforming the wider retail market. While it did admit it would be increasing its food prices in places to combat inflation, the company has found that keeping gas prices below the national average has been beneficial for its sales and membership numbers.
  • Strong earnings do not necessarily equal green candles in this market. Although Costco didn’t plummet on the stock market like Walmart and Target did last week, the fact it still traded in the red is likely to be reflective of short-term sentiment towards retail businesses.
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Mar 042022

How will this pandemic winner emerge?

Investors contemplate whether the fourth quarter is promising enough for Costco to compete with its own pandemic success.

🔍Key points:

  • Shares edged down in Thursday extended trading even after Costco beat on both ends with its fiscal second quarter, posting EPS of $2.92 on revenue that was up almost 16% to hit $51.53bn.
  • The dip in shares came because growth is slowing. Same store sales climbed over 11%, slower than last quarter’s 14.9% growth, and e-commerce growth of 12.6% has seen a major slowdown from 75% the same time last year (which was mid-pandemic tbf).
  • Investors' hopes were high after Costco came out as a pandemic winner last year, but the comedown has been harder and quicker than they expected. Going forward, CFO Richard Galanti says the business will focus on trying to manage “higher labor costs, higher freight costs as well as higher transportation demand”.
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Dec 142021

Costco kicks earnings ass

Investors are filling up their baskets with Costco stock after fiscal Q1 knocks it out the park.

  • Prices shot up 6.58% on Friday to a new all time closing high of $558.82.
  • Earnings beat on both ends. It reported EPS of $2.97 on revenues of $50.4bn, topping estimates of $2.67 in EPS on revenues of $50.15bn.
  • Shoppers are keen to spend. In store sales lifted 15%, topping the 13% analysts were looking for, and its e-commerce segment saw growth of 13.3%.
  • Retailers have been rushing to meet holiday demand in the face of a supply shortage, and while most of its inventory was delayed, CFO Richard Galanti feels “pretty good” about mitigating the disaster as much as possible.
  • It did warn of delays in toys and other seasonal products over the holidays.
  • Earnings led to a flurry of analyst upgrades and price hikes from bulls who think Costco is perfectly poised to thrive in 2022.
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