Proactiveinvestors Australia - Basic Materials RSS feed http://www.proactiveinvestors.com.au Proactiveinvestors Australia - Basic Materials feed en Sun, 21 Jan 2018 17:08:51 +1100 http://blogs.law.harvard.edu/tech/rss Genera CMS action@proactiveinvestors.com action@proactiveinvestors.com Costco Q4 revenue misses on strong dollar, lower fuel prices http://www.proactiveinvestors.com.au/companies/news/115963/costco-q4-revenue-misses-on-strong-dollar-lower-fuel-prices-115963.html Costco Wholesale (NASDAQ:COST), the largest U.S. warehouse-club chain, reported slower-than-expected revenue growth in its August quarter as lower fuel prices and the stronger U.S. dollar weighed on the results. Shares fluctuated.

Revenue rose marginally to $35.78bn in the fourth quarter ended August 30, the Issaquah, Washington-based company said in a statement late on Tuesday.

That result missed the average estimate of $36.21bn, according to Capital IQ.

Comparable sales, including fuel and foreign currency impacts, fell 1% in the August quarter. Analysts polled by research firm Consensus Metrix had predicted a drop of 1%.

Comparable sales fell 10% in Canada and 7% elsewhere overseas in the August quarter, in part because of the stronger dollar.

Net income rose 10% to $767mln, or $1.73 per share, in the quarter, above the Wall Street consensus of $1.66 per share.

Shares were flat at $143.73 at 10:56 a.m. in New York. The stock is up 1.2% this year.

 

 

 

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