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COST - Costco Wholesale News Story

$459.51 -3.8  -0.8%

Last Trade - 17/09/21

Sector
Consumer Cyclicals
Size
Large Cap
Market Cap £148.55bn
Enterprise Value £146.34bn
Revenue £135.36bn
Position in Universe 52nd / 7151

UPDATE 1-Costco's quarterly profit tops estimates on tax benefit

Thu 5th March, 2015 9:06am
(Adds details, analyst estimates) 
    March 5 (Reuters) - Costco Wholesale Corp  COST.O  reported 
a better-than-expected quarterly profit, helped by a tax benefit 
related to its special cash dividend last month. 
    Costco, the third-largest U.S. retailer, said net income 
rose to $598 million, or $1.35 per share, for the second quarter 
ended Feb. 15, from $463 million, or $1.05 per share a year 
earlier.  ID:nMKWJLXZQa  
    Total revenue, which includes membership fees, rose 4.4 
percent in the quarter to 27.45 billion. Sales rose 4.3 percent 
$26.87 billion. 
    Analysts on average expected a profit of $1.18 per share on 
sales of $27.65 billion, according to Thomson Reuters I/B/E/S.   
    Costco, which sells food and general merchandise in bulk and 
gets most of its profit from annual membership fees, said 
comparable sales at outlets open more than one year grew 8 
percent in the second quarter, excluding fuel. 
    Analysts polled by research firm Consensus Metrix had 
expected same-store sales to increase 6.4 percent. 
    February comparable sales rose 1 percent, in line with  
analysts' expectations of 0.9 percent. 
    The results include a tax benefit of $57 million, or 13 
cents per share, in connection with the special cash, Costco 
said. 
 
 (Reporting by Nathan Layne and Ismail Shakil in Bengaluru; 
Editing by Gopakumar Warrier) 
 ((nathan.layne@thomsonreuters.com; +1 312 408 8133; Reuters 
Messaging: nathan.layne.thomsonreuters@thomsonreuters.net)) 
 
Keywords: COSTCO WHOLESALE RESULTS/
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