Costco: A Membership-Fee Increase Is Coming
Costco's (NASDAQ: COST) fiscal first-quarter earnings release after market close on Thursday was pretty ho-hum. Of course, this was somewhat by design. The company releases monthly sales results, giving investors frequent glimpses into the business.
In other words, they know what's coming (to an extent). It wasn't too surprising, therefore, to hear that the company's fiscal third-quarter sales rose just over 8% year over year to $53.4 billion. Earnings per share of $3.07 -- up from $2.98 in the year-ago period -- wasn't too far from analysts' consensus forecast, either.
But there was some interesting news in the update. That news came during the company's fiscal first-quarter earnings call. A membership-fee increase is coming, Costco management said.
Source Fool.com
