- Costco retailers beat the market's expectations for their Q3 results.
- Main revenues coming from increased memberships.
Costco retailers memberships rise
Costco retailers grossed nearly $1 billion in new membership fees, which aided in the bulk retailer beating market expectations. The Third quarter earnings posted by Costco were, for the most part, inline with the Wall Street forecasts as the retailer used its cheaper members-only gas sales to bring in new customers in the current challenging economic environment.
Group revenues, diluted earnings per share and membership revenues all rose. There are still concerns around pressures coming from high commodity prices, higher transportation cost, supply chains and higher wages.
Costco Price Chart
Sources finance.yahoo.com, thestreet.com