Costco Wholesale Corporation Earnings Soar, Thanks to Strong Sales
Following a sales slowdown that lasted for most of 2016, Costco Wholesale (NASDAQ: COST) has come roaring back this year. Comp-sales growth has been accelerating in recent months, culminating in a double-digit gain during November.
Some of this comp-sales growth stems from relatively inconsequential factors, such as higher gasoline prices and a slightly weaker U.S. dollar. However, customer traffic has also improved significantly in recent months. Last week, Costco reported that it successfully capitalized on this organic sales growth to deliver a strong double-digit increase in EPS in the first quarter of fiscal 2018.
Costco is one of the few retailers that still reports its sales every month. As a result, investors have known for a while that the discount warehouse giant knocked it out of the park last quarter.
Source: Fool.com
Costco Wholesale Stock
The stock is an absolute favorite of our community with 44 Buy predictions and no Sell predictions.
At the moment Costco Wholesale has reached the predicted target price of 723 €, with a current price of 718.0 €.
