Costco Wholesale Corp. brought in $1 billion more than expected in revenue in its latest quarter, keeping the retailer on track for its first $200 billion year.
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Through nine months of its fiscal year, Costco has reaped sales of $151.97 billion, with analysts projecting annual revenue of $223.38 billion. Costco finished last year just short of the $200 billion mark, producing revenue of $195.93 billion.
The company’s sales increase at stores open at least a year came up short of analysts’ average estimate, however. Same-store sales increased 10.8%, while analysts on average were projecting 11.8%, according to FactSet.
Costco shares declined more than 1% in after-hours trading following the release of the results. The stock has declined 18.1% so far this year, while the S&P 500 index SPX,
