Costco Wholesale Corp whizzed past analysts’ estimates for quarterly profit on Thursday as the warehouse club operator’s margins were lifted by a drop in gas prices and a shift to lower-cost sourcing, sending its shares up 5 percent.
The company is investing on strengthening its online business, sprucing up its website with everything ranging from Apple MacBooks to La Mer cosmetics.
The efforts paid off, with online comparable-store sales, excluding the impact of fuel price and currency changes, rising 25.5 percent in the second quarter ended Feb. 17.. . . more