Costco misses holiday-quarter revenue expectations despite online growth
Publishing timestamp: 2024-03-08 10:16:51
Summary
Costco missed revenue expectations for the holiday quarter, but reported year-over-year sales growth and strong e-commerce gains. The company's stock fell about 4% in aftermarket trading. Costco's net income rose, and comparable sales increased. E-commerce sales grew 18.4% compared to the previous year. Costco has made changes to its website and business to be more digitally savvy. Membership sign-ups have increased as the company cracks down on membership sharing. Costco has not yet raised its membership fees, but it is expected to do so in the future.
Sentiment: MIXED
Tickers: COST,
Keywords: costco wholesale corp, business news, business, united states, breaking news: business, earnings, richard galanti, retail industry, dividends, breaking news: earnings,
Source: https://www.cnbc.com/2024/03/07/costco-cost-q2-2024-earnings.html