Costco Stock Declines Despite Exceeding Revenue and Earnings Expectations
Costco’s fiscal 2024 third-quarter results exceeded expectations with a 9.1% increase in revenue and a 29% rise in earnings per share. Despite the positive performance, the decision to keep membership fees unchanged raised questions about potential fee adjustments. Analysts remain optimistic about Costco’s stock, with a consensus target price of $805.82 and a majority recommendation to Buy, highlighting the company’s growth potential.
Costco Stock Surges After Beating Earnings Estimates
Costco’s strong performance in its fiscal third quarter, with earnings and revenue surpassing expectations, has led to a surge in its stock price. The company’s focus on digital capabilities, personalized experiences, and successful online ventures like the sale of gold and silver bars have contributed to its growth. Analysts predict further earnings and sales growth for Costco in the coming months, reflecting positive trends in the retail sector.
Costco’s Gold Bar Sales Surging, Bringing in $200 Million Monthly
Costco’s foray into the gold market has been a massive success, with the retail giant estimated to be raking in as much as $200 million per month from its gold bar sales. The demand for 1-ounce gold bars has been so robust that the sales are now being described as a ‘cash cow’ for the company. Despite the surge in revenue, the impact on bottom-line profit is limited, but gold bars are proving to be a lucrative investment for Costco in the current economic climate.
Retailers Prepare to Announce Earnings, Costco and Abercrombie & Fitch See Stock Surges
Costco, Abercrombie & Fitch, Ross Stores, and Dick’s Sporting Goods are gearing up to announce their earnings, with investors closely monitoring their guidance. Target reported strong Q4 earnings but offered weak Q1 guidance, causing its stock to soar. Analysts anticipate Costco to achieve earnings of $3.62 per share on revenue of $59.11 billion, while Abercrombie & Fitch exceeded expectations for the holiday quarter. Despite positive results, Abercrombie stock fell 3.6% on Wednesday, reaching around 135.
Seattle woman sparks debate after returning couch to Costco after two and a half years
A Seattle woman has sparked an online debate after sharing a video of her returning a couch to Costco, which she had owned for two and a half years. In the viral TikTok video, Jackie Nguyen explained that she simply…
Costco’s Affordable Mirror Sparks Frenzy Among Shoppers
Costco has caught the attention of shoppers with its latest offering – a mirror that bears a striking resemblance to a piece sold at Anthropologie for a significantly higher price. The viral $1,198 mirror from Anthropologie has found its ‘dupe’…
Costco Offers 1-Ounce Gold Bars on Its Website, Sparking Interest Among Gold Enthusiasts
Costco, the popular bulk-goods retailer, has recently caught the attention of gold enthusiasts by offering 1-ounce gold bars for sale on its website. This move has sparked interest among individuals like Ron Williams, a retired Air Force production superintendent in…