Costco Reports December Sales of $29.9 Billion, Up 8.5% Year-Over-Year
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 10h ago
0mins
Source: NASDAQ.COM
- Sales Growth: Costco reported net sales of approximately $29.9 billion for December, reflecting an 8.5% year-over-year increase, indicating the company's sustained growth potential in the retail market despite economic uncertainties.
- Comparable Sales Improvement: U.S. comparable sales rose 7% in December, with adjusted comparable sales increasing by 6.3%, suggesting a potential rebound in consumer shopping habits that could further drive company performance.
- Digital Sales Acceleration: Costco's digitally enabled comparable sales surged 18.3% in December, up from 16.3% in November, highlighting the company's strong performance in e-commerce and enhancing its competitive position in the market.
- Membership Revenue Growth: Membership fee income rose 14% year-over-year to $1.33 billion, demonstrating the effectiveness of Costco's low-priced membership model in continually attracting consumers and enhancing customer loyalty.
Analyst Views on COST
Wall Street analysts forecast COST stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for COST is 1092 USD with a low forecast of 907.00 USD and a high forecast of 1218 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
24 Analyst Rating
16 Buy
8 Hold
0 Sell
Moderate Buy
Current: 915.310
Low
907.00
Averages
1092
High
1218
Current: 915.310
Low
907.00
Averages
1092
High
1218
About COST
Costco Wholesale Corporation (Costco) operates membership warehouses and e-commerce sites that offer a selection of nationally branded and private-label products in a wide range of categories. The Company buys the majority of its merchandise directly from suppliers and route it to cross-docking consolidation points (depots) or directly to its warehouses. It operates 891 warehouses, including 614 in the United States and Puerto Rico, 108 in Canada, 40 in Mexico, 35 in Japan, 29 in the United Kingdom, 19 in Korea, 15 in Australia, 14 in Taiwan, seven in China, five in Spain, two in France, and one each in Iceland, New Zealand and Sweden. It also operates e-commerce sites in the United States, Canada, the United Kingdom, Mexico, Korea, Taiwan, Japan and Australia. The Company provides wide selection of merchandise, plus the convenience of specialty departments and exclusive member services.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
