Costco Wholesale Corp.'s fiscal fourth-quarter as-reported EPS and net income came in below analyst expectations Oct. 3 as comparable sales met expectations.
Diluted EPS of $2.47 missed the S&P Global Market Intelligence mean consensus estimate for GAAP EPS of $2.55 for the quarter ended Sept. 1. Net income attributable to Costco of $1.10 billion was below the estimate for GAAP net income of $1.12 billion.
Comparable sales advanced 5.1% during the quarter, just above the estimate of 5.08%. Cumulatively, changes in the values of foreign currencies, fuel prices and a change in revenue recognition did not affect sales during the quarter.
Net sales grew 7% to $46.45 billion excluding annual membership fees.
Shares of the Issaquah, Wash.-based retailer declined 1.4% to $285 in after-hours trading on Oct. 3.
The company also reported results for its 2019 fiscal year. Diluted EPS of $8.26 missed the Market Intelligence estimate for GAAP EPS of $8.30, while comparable sales advanced 6.1%, both as-reported and adjusted for foreign exchange, fuel prices and revenue recognition.
