icon
icon
icon
icon
🏷️$300 Off
🏷️$300 Off

News /

Articles /

Costco's Q1 Results to Follow Peers as "Black Friday" Delayed

Market IntelMonday, Dec 9, 2024 2:30 am ET
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.

Comments

Add a public comment...
Post
No Comment Yet
Disclaimer: The news articles available on this platform are generated in whole or in part by artificial intelligence and may not have been reviewed or fact checked by human editors. While we make reasonable efforts to ensure the quality and accuracy of the content, we make no representations or warranties, express or implied, as to the truthfulness, reliability, completeness, or timeliness of any information provided. It is your sole responsibility to independently verify any facts, statements, or claims prior to acting upon them. Ainvest Fintech Inc expressly disclaims all liability for any loss, damage, or harm arising from the use of or reliance on AI-generated content, including but not limited to direct, indirect, incidental, or consequential damages.
You Can Understand News Better with AI.
Whats the News impact on stock market?
Its impact is
fork
logo
AInvest
Aime Coplilot
Invest Smarter With AI Power.
Open App