Costco Earnings: Another Strong Quarter
The COVID-19 pandemic provided a huge boost for Costco Wholesale (NASDAQ: COST). People who were eating at home more frequently found buying in bulk attractive. Moreover, consumers have ramped up spending on discretionary and big-ticket items like home furnishings, sporting goods, furniture, electronics, and appliances (all of which Costco carries).
Some of the warehouse club giant's earnings tailwinds have started to abate in recent months. Nevertheless, Costco reported impressive earnings results for the final quarter of its 2021 fiscal year last week. Let's take a look.
For most of fiscal 2021, Costco logged strong increases in core gross margin. The fresh foods department led the way, as surging customer traffic and sales reduced food waste and boosted labor productivity for prepared foods.
Source Fool.com
