Costco Earnings: Record Fuel Volume and Digital Gains Overcome Value Investments; Shares Pricey
Costco's fiscal third-quarter results featured an 11.6% increase in revenue and diluted EPS of $4.93, up 15.3%. Comparable store sales (excluding fuel) rose 6.6% and membership fee income grew 10.7%, but gross margin fell 21 basis points to 12.8% as fuel sales and discounts squeezed profits.