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 ...

Market Performance - The S&P 500 index decreased by 2.6% this week, while the Nasdaq fell by 2.5%[3] - Among sectors, only the Household & Personal Products sector saw an increase of 1%, while the Technology Hardware & Equipment sector dropped by 6.3%[3] Fund Flows - Estimated fund outflow from S&P 500 components was $11.115 billion this week, compared to an inflow of $25.71 billion last week[4] - Three sectors experienced fund inflows: Healthcare Equipment & Services (+$200 million), Media & Entertainment (+$170 million), and Household & Personal Products (not significant)[4] Earnings Forecast - The dynamic F12M EPS forecast for S&P 500 components was adjusted upward by 0.2% this week, following a 0.1% increase last week[5] - The Automotive & Auto Parts sector saw the largest upward revision of +0.7%, while the Food & Staples Retailing sector was revised down by -1.1%[5] Economic Risks - Key risks include uncertainties in economic fundamentals, international political situations, U.S. fiscal policy, and Federal Reserve monetary policy[5]

Group 1: Market Overview - Trump's trade policies have caused volatility in broader equities, leading to investor concerns about future market conditions [1] - Despite short-term uncertainties, the stock market is expected to provide competitive returns over the long term [1] Group 2: Coca-Cola - Coca-Cola has outperformed the market this year, benefiting from its position in the consumer staples industry, which is perceived as a safe haven during economic downturns [4] - The company's forward price-to-earnings (P/E) ratio is 24.2, which is reasonable compared to the industry average of 22.2 [4] - Coca-Cola's extensive global presence and local manufacturing reduce the impact of tariffs, making it resilient to trade policy changes [5] - The brand's strong recognition and adaptability to changing consumer demands provide a competitive advantage [6][7] - Coca-Cola has a remarkable dividend track record, having increased payouts for 63 consecutive years, indicating robust underlying operations [8] Group 3: Costco - Costco's stock appears expensive with a forward P/E of 56.7, which is significantly above the average for consumer staples [9] - The company's membership model fosters customer loyalty and encourages repeat visits, enhancing its competitive position [10] - Costco has substantial growth opportunities, particularly in international markets, with 69% of its warehouses located in the U.S. [11] - The company holds a 1.5% share of the U.S. e-commerce market, with e-commerce sales growing faster, providing a long-term growth tailwind [12] - Although tariffs may impact margins, Costco's strong brand and global expansion strategy are expected to sustain its appeal and performance in the long run [13]

Core Insights - Home Depot and Costco are both leading retailers in their respective sectors, generating significant annual revenues, but their stock performances differ, with Costco showing stronger growth [1][13]. Home Depot - Home Depot reported Q1 2025 revenue of $39.9 billion, a 9.4% year-over-year increase, surpassing Wall Street expectations [3]. - Same-store sales (SSS) declined by 0.3% in Q1 2025, following previous declines of 1.8% in fiscal 2024 and 3.2% in fiscal 2023, indicating consumer hesitance in spending on home improvements amid economic uncertainty [4]. - The home improvement industry is valued at approximately $1 trillion, with Home Depot holding a 16% market share, suggesting potential for growth by attracting customers from smaller competitors [5]. - The company highlights significant untapped home equity built up since the pandemic, which could lead to increased demand if macroeconomic conditions improve [6]. - Aging housing stock, with 55% of homes being 40 years or older, is expected to drive future revenue growth as older homes require more maintenance [7]. Costco - Costco continues to report positive SSS growth, demonstrating strong consumer demand even during economic downturns [9]. - The company benefits from a scale advantage, with $62.5 billion in net sales for Q2 2025, allowing it to negotiate favorable pricing with suppliers due to its limited product range [10]. - Costco's membership model fosters customer loyalty, with renewal rates exceeding 92% in the U.S. and Canada, contributing to a high-margin, recurring revenue stream [11]. - The company maintains a consistent earnings stream, supporting a quarterly dividend of $1.30 and occasional special dividends, the last being $15 in January 2024 [12]. - Over the past five years, Costco's stock price has increased by 236%, compared to Home Depot's 56%, indicating a market preference for Costco's financial performance [13]. Investment Considerations - Costco is viewed as the higher-quality business, but its shares trade at a price-to-earnings ratio of 59.9, significantly higher than Home Depot's 24.9 [13]. - For investors prioritizing company quality, Costco is recommended, while those focused on valuation may find Home Depot to be the better investment at present [14].