Costco Wholesale slips after mixed earnings report
Eric Thayer

Costco Wholesale Corporation (NASDAQ:COST) reported sales growth of 6.5% for its FQ2 as the retailer continues to scrap for market share.
Comparable sales were up 5.7% in the U.S. for the big-box retailer vs. 5.6% consensus, rose 3.5% in Canada, and were 3.8% higher for international markets. E-commerce sales fell 9.6% during the quarter. Overall comparable sales were up 5.2% vs. +5.3% consensus.
After backing out gas prices and F/X swings, comparable sales were up 5.8% in the U.S. vs. +5.6% consensus and 6.8% overall.
Membership fee income was $1.03B vs $1.04B consensus and $967M a year ago
Net income for the quarter was $1.466B vs. $1.299B a year ago.
Merchandise inventory at the end of the quarter was down slightly compared to a year ago at $16.09B vs. $17.91B.
At the end of the quarter, Costco (COST) operated a total of 848 warehouses, including 584 in the United States and Puerto Rico, 107 in Canada, 40 in Mexico, 31 in Japan, 29 in the United Kingdom, 18 in Korea, 14 in Taiwan, 14 in Australia, four in Spain, two each in France and China, and one in Iceland, New Zealand, and Sweden.
Costco (COST) is set to hold a conference call at 5:00 p.m.
Shares of Costco (COST) fell 2.20% in after-hours trading to $475.00 vs. the 52-week trading range of $406.51 to $612.27.
Read the latest breakdowns on Costco (COST) from Seeking Alpha authors.