Costco stock slips as earnings fall short of expectations
Eric Thayer

Costco Wholesale Corporation (NASDAQ:COST) uncharacteristically missed earnings estimates on Thursday.

For its fiscal first quarter, the Washington-based retailer reported $3.10 in earnings per share on $53.44B in revenue. Analysts had anticipated $3.12 and $54.68B, respectively. To be sure, certain charges related to shipping and stock-based compensation make for an imperfect EPS comparison.

Additionally, comparable sales growth of 6.6% came up just short of the 6.87% consensus and a 6.5% jump in US comparable sales ex-gas also came in just below the 6.58% expectation.

The miss on revenue is the first miss for the company in 3 years. Meanwhile, the disappointing report on EPS is the first since February 2021.



Costco (COST) shares fell 1.75% shortly after the earnings results were announced.
Read more on downbeat sales trends at the retail giant as of late.