Costco Wholesale 1Q Profit, Sales Rise
December 08 2022 - 4:57PM
Dow Jones News
By Sabela Ojea
Costco Wholesale Corp. on Thursday posted a rise in profit and
sales for its latest quarter, as consumers continued to rely on
discounts amid high levels of inflation.
The warehouse retailer said its net income for its first quarter
rose to $1.36 billion, or $3.07 a share, compared with $1.32
billion, or $2.98 a share, for the prior year.
Revenue increased 8.1% to $54.44 billion, ahead of market views
of $50.36 billion, according to FactSet.
Comparable sales, those from stores and digital channels
operating for at least 12 months, increased 6.6%.
Online sales, on the other hand, were down 3.7%, the company
said.
Write to Sabela Ojea at sabela.ojea@wsj.com; @sabelaojeaguix
(END) Dow Jones Newswires
December 08, 2022 16:42 ET (21:42 GMT)
Copyright (c) 2022 Dow Jones & Company, Inc.
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