Costco Wholesale Corp. is reinforcing Wall Street’s sentiment that the big-box retailer is equipped to thrive in an e-commerce era.
The company’s shares rose in early trading after first-quarter
earnings beat analysts’ estimates. Profit is only part of the story,
though: Chief Financial Officer Richard Galanti said on a conference
call he was pleased that membership renewal rates remained steady after a
warning last quarter that they could drop. Investors have keyed on the
metric as a barometer of consumers’ enthusiasm for the brand. . . . more