Retail giant Costco Wholesale Corporation (NASDAQ: COST) reported higher earnings and revenues for the fourth quarter of 2020, reflecting a marked increase in merchandise sales. The results also topped analysts’ expectations.
Net profit was $1.39 billion or $3.13 per share in the final three months of fiscal 2020, up from $1.1 billion or $2.47 per share recorded in the same period of last year. Analysts had forecast a slower growth.
Read management/analysts’ comments on Q4 results? Stay tuned here for Costco’s Q4 2020 earnings call transcript
Net sales grew by 13% to $52.28 billion during the three-month period, aided by an 11.4% increase in comparable-store sales. Total revenues were up 12% year-over-year. Costco’s stock closed Thursday’s trading higher but declined in the after-hours session.
Most Popular
PEP Earnings: All you need to know about PepsiCo’s Q3 2024 earnings results
PepsiCo, Inc. (NASDAQ: PEP) reported its third quarter 2024 earnings results today. Net revenue dipped 0.6% to $23.3 billion compared to the same period a year ago. Organic revenue growth
Walgreens Boots Alliance’s Q4 results likely to reflect market challenges
Walgreens Boots Alliance, Inc. (NASDAQ: WBA) has been struggling to maintain sales momentum and profitability for quite some time due to a challenging operating environment. The main headwinds to the
Bank earnings preview: What to expect when the banking giants report Q3 2024 results
A slew of major banks are set to report their earnings results for the third quarter of 2024 over this week and the next. The focus will be on interest
