Costco's Comparable Sales Climb 11.4%
September 24 2020 - 4:01PM
Dow Jones News
By Allison Prang
Costco Wholesale Corp.'s comparable sales rose in the double
digits for the fourth quarter and the company logged revenue that
beat analysts' consensus.
Comparable sales -- an important measure of retail growth --
increased 11.4% for the quarter. The company said adjusted
comparable sales rose 14.1%.
Costco's total revenue was $53.38 billion, 12% higher than a
year ago. Analysts expected $52.11 billion.
The retailer's profit for the quarter that ended Aug. 30 was
$1.39 billion, or $3.13 a share. The comparable quarter a year ago,
Costco had a profit of $1.1 billion or $2.47 a share.
The company said its fourth-quarter results were hurt by
Covid-19 premium wages and sanitation expenses, which hit earnings
by 47 cents a share, or $281 million, before tax.
Write to Allison Prang at allison.prang@wsj.com
(END) Dow Jones Newswires
September 24, 2020 16:46 ET (20:46 GMT)
Copyright (c) 2020 Dow Jones & Company, Inc.
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