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.
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.