Costco's Q1 Results to Follow Peers as "Black Friday" Delayed
1min read Costco (COST.US) will report its first-quarter fiscal 2025 earnings after the market closes on Thursday, December 12, according to analysts' consensus estimates. The company is expected to post revenue of $62.37 billion, up 7.9% YoY; and EPS of $3.79, up 8.9% YoY.
Black Friday "delay" didn't hurt sales growth
Costco's net sales for the first thirteen weeks of fiscal 2025 were $66.52 billion, up 7.2% YoY from $62.04 billion last year. The company said in a statement: "E-commerce sales were negatively impacted by about 1.5% due to the shift in the timing of this year's Thanksgiving/Black Friday/Cyber Monday from last year, which negatively impacted total and comparable sales by about 1.5%."
Thanksgiving and Black Friday were both successful, with American consumers continuing to flock to stores to shop. Consumer goods companies were in the spotlight this week. Adobe data showed that Black Friday's spending reached a record $10.8 billion, up 10.2% YoY. Total spending on Thanksgiving was $6.1 billion.
Seven of the eight consumer goods companies that reported earnings last week beat expectations, easing concerns about the state of the US economy, which is widely believed to be one of the most pressing issues for voters during the election period.
