Costco Stock Slides After Q1 Earnings Miss, Weakening Autumn Sales

Costco Wholesale  (COST) – Get Free Report posted weaker-than-expected first quarter earnings Thursday as membership revenues missed Street forecasts amid a pullback in gross sales over the ultimate weeks of autumn. 

Costco stated diluted earnings for the three months ended Nov. 20, the corporate’s fiscal first quarter, got here in a $3.09 per share, up 3% from the identical interval final 12 months however 2 cents shy of the Street consensus forecast.

TheStreet’s Dan Kline Live Blogs the Costco Conference Call

Group revenues, Costco stated, rose 8.1% to $54.437 billion, simply shy of analysts’ forecasts of a $54.64 billion tally. Membership revenues rose 5.7% to $1 billion.

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