Despite Economy, Costco Manages Impressive Sales Gains (COST)
Costco Wholesale Corp. (NASDAQ: COST) is trading down over 1% pre-market, yet the upper-end big box retailer posted some very strong numbers. The company reported earnings of $0.97 per share before $0.07 worth of charges. First Call estimates were for…
This post may contain links from our sponsors and affiliates, and Flywheel Publishing may receive compensation for actions taken through them.
Costco Wholesale Corp. (NASDAQ: COST) is trading down over 1% pre-market, yet the upper-end big box retailer posted some very strong numbers. The company reported earnings of $0.97 per share before $0.07 worth of charges. First Call estimates were for profit of $0.93. Its net sales were $22.6 billion excluding membership fees. Costco also posted September same store sales at +7% with a total sales gain of 10% for the month. It is still growing members as its membership fees rose to $473.7 million from $388.2 million in the same quarter in 2007.
As noted, shares are indicated slightly lower than its $57.80 close. In today’s economy, this report was solid.Its 52-week trading range is $57.05 to $75.23. Despite hard times,this stock should have already started pricing in much of the currentmarket woes and a slower consumer.
Jon C. Ogg
October 8, 2008
Contact [email protected] for any questions or corrections.
Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.
McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.
His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.
A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.
TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.
McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.
