(CercleFinance.com) – Costco is evolving without much trend on Friday on the New York Stock Exchange following the publication of mixed quarterly results that did not arouse the enthusiasm of investors.
The chain of warehouse stores on Thursday evening announced net income of $ 1.36 billion, or $ 3.07 per share, for the first quarter of its 2022-2023 fiscal year, against 1.32 billion, or 2, $98 per title, a year ago.
Its quarterly sales rose 8.1% to just over $53.4 billion.
On a like-for-like basis and excluding the effects of exchange rates and gasoline prices, its sales increased by 7.1%, with a drop of 2% in e-commerce.
In a reaction note, Jefferies analysts point out that the profitability of the Issaquah (Washington) group has suffered from its choice not to pass on inflationary pressures to its food prices and from its decision to offer more promotional offers than usually.
“That said, the management team spoke of progress in terms of inflation and supply chain supply”, retains the research department.
“Costco’s subscription model continues to provide strong predictability in sales and profitability in an increasingly uncertain environment,” concludes Jefferies.
Costco currently operates 847 warehouse clubs worldwide, including 583 in the United States and Puerto Rico, 107 in Canada, 40 in Mexico, 31 in Japan, 29 in the United Kingdom, 18 in South Korea, 14 in Taiwan, 14 in Australia, four in Spain, two in France and China and one in Iceland, New Zealand and Sweden.
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