Retailer Costco Wholesale (COST) has reported mixed financial results for this year’s second quarter.
The Seattle-based warehouse club announced earnings per share (EPS) of $5.29 U.S., which beat consensus analyst estimates of $5.08 U.S.
Revenue in the quarter totaled $79.70 billion U.S., which was slightly below Wall Street’s estimate of $79.90 billion U.S.
The company’s same-store sales rose 5.4% from a year earlier, which was also below forecasts that called for a 5.7% increase.
Costco’s e-commerce sales rose 19.5% in the quarter, which fell short of the 19.63% growth that was forecast among analysts who track the company’s progress.
On their earnings call, management at Costco said they continue to expand beyond the core grocery business and into apparel and other non-food items such as gold bars.
Costco also raised its annual membership fees on Sept. 1 of this year. It was the first fee hike in seven years.
Individual Costco memberships are now $65 U.S. a year, up from $60 U.S. previously. An executive membership costs $130 U.S., up from $120 U.S.
Costco’s stock fell 1% on news of the company’s latest financial results. Over the last 12 months, the share price has gained 60% to trade at $901.44 U.S.
