Friday, March 8, 2019

Costco beats profit estimates as margin pressures ease

Reuters
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