Costco Recap: Numbers Up For Fiscal First-Quarter, CEO Passes Torch
Costco Wholesale Corp (NASDAQ:COST) posted encouraging numbers for the first quarter with net sales up 13%, membership fee revenue up 7.5% and EPS at $0.73 up from $0.71 a year ago.
Earnings rose to $320 million from last year’s $312 million, helped by net sales that grew 13% to $21.18 billion. Membership revenues rose to $447 million.
Costco is the largest warehouse club operator in the U.S. and is a discount seller of an entire gamut of products from chicken to couches. Last month it raised the membership fee by 10%.
Co-founder and long-running Chief Executive, Jim Sinegal, is to hand over charge of the CEO position to President and COO Craig Jelinek next month. Sinegal will, however, remain on the board.
Here’s how Costco is trading now:
Costco Wholesale Corporation (NASDAQ:COST): COST shares recently traded at $84.35, down $1.41, or 1.64%. They have traded in a 52-week range of $69.54 to $88.68. Volume today was 2,256,526 shares versus a 3-month average volume of 2,680,100 shares. The company’s trailing P/E is 25.55, while trailing earnings are $3.30 per share. Get the most recent company news and stock data here >>