The sign on the side of a Costco is seen in Hawthorne, California, on April 4, 2025.Costco on Thursday posted quarterly earnings and revenue that topped estimates as its sales climbed 8%. Here's how the warehouse club retailer did in its fiscal third quarter compared what Wall Street was expecting, based on a survey of analysts by LSEG:Earnings per share: $4.28 vs. $4.24 expectedRevenue: $63.21 billion vs. $63.19 billion expectedCostco's net income for the three-month period that ended May 11 rose to $1.90 ...

Financial Performance - Net sales for the second quarter increased by 9.1% to $62.53 billion, compared to $57.33 billion last year[2] - Net income for the quarter was $1,788 million, or $4.02 per diluted share, up from $1,743 million, or $3.92 per diluted share, last year[3] - Comparable sales for the second quarter showed a total company increase of 6.8%, with U.S. sales up 8.3% and e-commerce sales up 20.9%[2] - For the four-week reporting month of February, net sales were $19.81 billion, an increase of 8.8% from $18.21 billion last year[4] - Total revenue for the first 24 weeks was $125.87 billion, a rise of 8.3% from $116.24 billion last year[10] - Operating income for the quarter was $2.316 billion, compared to $2.062 billion last year[10] Membership and Fees - Membership fees for the quarter increased to $1.193 billion, up from $1.111 billion last year[10] Cash and Assets - Cash and cash equivalents at the end of the period were $12.356 billion, compared to $9.906 billion at the beginning of the year[14] - The company reported a net cash provided by operating activities of $6.008 billion for the first 24 weeks[14] Operations - Costco operates 897 warehouses globally, with 617 located in the United States and Puerto Rico[5]

Core Insights - Costco Wholesale Corporation reported a net sales increase of 8.0% for the third quarter, reaching $61.96 billion compared to $57.39 billion last year [1] - For the first 36 weeks of fiscal 2025, net sales rose by 8.2% to $185.48 billion from $171.44 billion in the previous year [1] Sales Performance - Comparable sales for the third quarter showed a total company increase of 5.7%, with adjusted comparable sales at 8.0% [2] - U.S. comparable sales increased by 6.6%, while Canada saw a 2.9% increase [2] - E-commerce sales experienced significant growth, with a 14.8% increase for the third quarter and 16.4% for the first 36 weeks [2] Profitability - Net income for the third quarter was $1.90 billion, or $4.28 per diluted share, compared to $1.68 billion, or $3.78 per diluted share, last year [3] - For the first 36 weeks, net income reached $5.49 billion, or $12.34 per diluted share, up from $5.01 billion, or $11.27 per diluted share, in the previous year [3] Operational Footprint - Costco operates 905 warehouses globally, with 624 located in the United States and Puerto Rico [4] - The company also runs e-commerce sites in multiple countries, including the U.S., Canada, and the U.K. [4] Financial Overview - Total revenue for the third quarter was $63.21 billion, up from $58.52 billion last year [8] - Membership fees contributed $1.24 billion for the quarter, an increase from $1.12 billion [8] - Operating income for the third quarter was $2.53 billion, compared to $2.20 billion last year [8]

Core Viewpoint - Costco Wholesale Corporation is expected to report improved revenues and earnings for its fiscal third quarter, driven by an increase in comparable store sales and strong customer traffic [2][5]. Financial Performance Expectations - The Zacks Consensus Estimate for Costco's fiscal third-quarter revenues is $63.1 billion, reflecting a 7.9% year-over-year increase [5]. - The estimated earnings per share (EPS) for the fiscal third quarter is $4.25, indicating a 12.4% rise from the previous year [5]. - Comparable sales in the U.S. rose by 7.1% in April, surpassing estimates despite calendar-related issues [2]. Customer Traffic and Sales Growth - U.S. store traffic increased by 5%, while global traffic rose by 4.2%, with average transaction size growing by 2.4% year-over-year [3]. - E-commerce sales saw a significant growth of 13% in April compared to the same month last year [3]. Regional Performance Insights - Core sales in Canada and other international markets faced challenges due to price increases and macroeconomic pressures, but strong sales in the Southeast, Midwest, and Northeast U.S. regions helped offset these declines [4]. Membership Model and Customer Loyalty - Costco's membership model has proven successful, contributing to long-term growth prospects, with a current renewal rate of 93% [7][9]. - Recent increases in membership fees are expected to enhance profit margins and provide flexibility in managing costs [8]. Operational Efficiency - The company has improved its supply chain efficiency, increased item turnover, and simplified inventories, positioning itself as a top performer in the retail sector [10]. Trading Strategy Post-Earnings - The anticipated increase in comparable store sales suggests that upcoming quarterly results will be positive, likely leading to a rise in stock price [11]. - Technical indicators show Costco stock trading above both the short-term 50-day moving average and long-term 200-day moving average, indicating a bullish trend [12].

Core Insights - Costco Wholesale Corp is set to report its fiscal third quarter results, with analysts predicting earnings per share of $4.24 and revenue of $63.19 billion, amidst a backdrop of a 25% stock gain over the past year but a recent 2% decline in the last month [1][5] Stock Performance - The stock is currently trading at $1009.74, below its eight-day and 20-day simple moving averages, indicating a bearish signal, but remains above the 50 and 200-day SMAs, which is a bullish indicator [2] - The MACD reading is at 9.46, and the RSI is at 52.56, suggesting a moderately bullish trend with noticeable selling pressure [3] Analyst Sentiment - Analysts have a consensus "Buy" rating for Costco stock, with an average price target of $1,034.68, and Telsey Advisory Group projecting a more optimistic target of $1,100, indicating a potential upside of nearly 9% [3] - JPMorgan analyst Christopher Horvers notes that Costco's strong retail positioning and growth characteristics are resonating with NASDAQ-style momentum, providing the stock with some tailwind despite near-term hesitations [4]

Core Viewpoint - Costco Wholesale Corporation is set to release its third-quarter earnings results, with expectations of increased earnings and revenue compared to the previous year [1]. Financial Performance - Analysts predict Costco will report quarterly earnings of $4.23 per share, an increase from $3.78 per share in the same quarter last year [1]. - Projected quarterly revenue is expected to be $63.1 billion, up from $58.52 billion a year earlier [1]. - The company beat revenue estimates in the second quarter but has only surpassed analyst estimates in four of the last ten quarters overall [2]. Stock Performance - Costco shares experienced a slight decline of 0.5%, closing at $1,013.14 [3]. Analyst Ratings - Telsey Advisory Group analyst Joseph Feldman maintains an Outperform rating with a price target of $1,100 [8]. - Loop Capital analyst Laura Champine has a Buy rating but reduced the price target from $1,150 to $1,045 [8]. - Stifel analyst Mark Astrachan also holds a Buy rating, lowering the price target from $1,075 to $1,035 [8]. - Evercore ISI Group analyst Greg Melich maintains an Outperform rating and raised the price target from $1,050 to $1,070 [8]. - Truist Securities analyst Scot Ciccarelli has a Hold rating and increased the price target from $935 to $995 [8].

Core Viewpoint - Costco Wholesale Corporation is preparing to release its third-quarter fiscal 2025 earnings results, with investors weighing the decision to buy or hold the stock based on earnings expectations and market conditions [1] Financial Performance Expectations - Analysts project third-quarter revenues to reach $63.1 billion, reflecting a 7.9% increase year-over-year, while earnings per share are estimated at $4.25, indicating a 12.4% year-over-year growth [3] - The company has a trailing four-quarter earnings surprise average of 0.8%, although it missed the Zacks Consensus Estimate by 1.7% in the last quarter [4] Growth Strategies and Market Position - Costco's strategic investments, customer-centric approach, and focus on membership growth have contributed to its resilience as a consumer defensive stock [2] - The company’s competitive pricing and bulk purchasing power enable it to maintain low prices, which is expected to drive comparable sales growth of 4.7% in the third quarter [8] - High membership renewal rates, exceeding 90%, provide a stable revenue source, with membership fees anticipated to increase by 9.6% during the quarter [9] E-commerce and Expansion - Costco's adaptability in product offerings and continuous expansion into new markets, including e-commerce growth projected at 21%, positions it well for future success [10] Valuation and Market Comparison - Costco's forward 12-month price-to-earnings (P/E) ratio is 52.28, significantly higher than the industry average of 33.09 and the S&P 500's 21.36, indicating a premium valuation [13] - The stock has outperformed competitors, with a 24% increase in price over the past year, compared to declines in competitors like Dollar General and Target [12] Investment Considerations - Despite its premium valuation, Costco's strong financial health and strategic initiatives suggest potential for further upside, making it a compelling choice for growth-oriented investors [18]

Group 1 - Costco has raised its membership fee just before a period of consumer distress, which may create mixed feelings among investors [1] - The company is operating in an uncertain global environment, which could impact its performance [1] Group 2 - The focus on long-term growth and dividend growth investing is emphasized, highlighting the importance of profitability over low valuation [1] - Key metrics such as margins, free cash flow stability and growth, and returns on invested capital are crucial for assessing the company's performance [1]

Core Viewpoint - Major retailers like Costco, Sam's Club, and Walmart are expanding their fuel businesses despite the approaching electric vehicle era, indicating a continued reliance on gasoline and a slow transition to electric vehicles [1][2]. Group 1: Retail Expansion in Fuel Business - Walmart plans to open over 45 new gas stations across 34 states, with operations at more than 450 stores, offering low-cost fuel services to customers [2]. - Costco has extended the operating hours of its member-exclusive gas stations, with many locations now closing at 10 PM instead of 9 PM [2]. - Dollar General has cautiously expanded its fuel business, starting with a pilot store in Alabama and growing to over 40 locations primarily in the southern U.S. [2]. Group 2: Competitive Landscape - Retailers are increasingly competing for price-sensitive consumers, with gas stations serving as a strategic lever to attract customers away from competitors [3][4]. - The integration of gas stations with retail stores is seen as a way to enhance customer loyalty and provide convenience for shoppers [5]. Group 3: Future Opportunities - The rise of electric vehicles presents a unique opportunity for retailers, as charging times are longer than refueling, allowing retailers to attract customers into their stores during the wait [6]. - Retailers are betting on the future of electric vehicle charging stations, which could replace traditional gas pumps, providing potential business expansion opportunities [5][6].

2.周一（26日）：美团公布财报。 3.周二（27日）：将公布中国4月规模以上工业企业利润同比数据；拼多多、小米集团、快手发布财 报。 4.周五（30日）：上金所、上期所、郑商所、大商所无夜盘交易；台股休市一日。 钛媒体App 5月25日消息，下周市场大事预告： 1.下周央行公开市场将有9460亿元逆回购到期，其中下周一至下周五分别到期1350亿元、3570亿元、 1570亿元、1545亿元、1425亿元。 14.5月27日，中国国家统计局将公布规模以上工业企业利润。此前数据显示，4月份，规模以上工业增 加值同比实际增长6.1%（增加值增速均为扣除价格因素的实际增长率）。从环比看，4月份，规模以上 工业增加值比上月增长0.22%。1-4月份，规模以上工业增加值同比增长6.4%。 15.5月31日，中国国家统计局将公布5月采购经理指数（PMI）运行情况。此前数据显示，4月份，制造 业采购经理指数为49.0%，比上月下降1.5个百分点；非制造业商务活动指数为50.4%，比上月下降0.4个 百分点，仍高于临界点；综合PMI产出指数为50.2%，比上月下降1.2个百分点，继续高于临界点。 5.周六（31日）：将公布中 ...