Costco Beats Estimates on Strong Bulk and Fuel Sales
Costco Wholesale reported better-than-expected fourth-quarter revenue and earnings as inflation-weary consumers turned to its discount gas stations and bulk deals. Quarterly revenue rose 11 percent to 95.72 billion dollars while same-store sales exceeded expectations.
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Costco Wholesale Corp posted fourth-quarter adjusted EPS of $6.60, beating Wall Street estimates of $6.53 as quarterly revenue rose 11% to $95.72B. The discount retailer drew inflation-weary shoppers seeking bulk deals and cheap fuel. Total same-store sales rose 6.7%, topping analysts' expectations of 6.11%.
