Costco’s Big Sales Beat Sends One Clear Signal About the U.S. Shopper
Costco reported net sales of $69.15 billion for the quarter ended May 10, up 11.6% from a year earlier, beating analyst expectations. Net income rose to $2.19 billion, or $4.93 a share. Comparable sales climbed 9.8%, with digital sales up 21.5%. Paid memberships increased 4.1% to 82.9 million, while gross margin slipped to 11.04%.