Costco: Earnings Preview
Costco Wholesale Corporation (COST) is scheduled to report its second-quarter 2011 financial results on March 2, 2011. The current Zacks Consensus Estimate for the quarter is 78 cents a share. For the quarter under review, revenue is $20,514 million, according to the Zacks Consensus Estimate.
First-Quarter 2011, a Synopsis
Costco Wholesale Corporation posted better-than-expected first-quarter 2011 results. The quarterly earnings of 71 cents a share topped the Zacks Consensus Estimate of 69 cents, and rose 18.3% from 60 cents earned in the prior-year quarter. The double-digit increase in the bottom line was buoyed by growth in the top line attributable to improved sales of discretionary items, as consumers seeking discounts started flocking to warehouse clubs. The company’s international operations have been the major driver. The warehouse retailer’s total revenue, which includes net sales and membership fee, climbed 11.2% to $19,239 million from the prior-year quarter, and came ahead of theComplete Story »