Credit: Shutterstock photoMembership warehouse retailer Costco Wholesale ( COST ) topped fiscal first-quarter estimates late Thursday, helped by strong same-store sales and a surge in e-commerce.
[ibd-display-video id=3017493 width=50 float=left autostart=true] Estimates : A 15% profit jump to $1.35 a share on 12% revenue gains to $31.52 billion, per Zacks Investment Research.
Results : Adjusted EPS of $1.36 on revenue of $31.81 billion. Comparable-store sales climbed 10.5% overall, or 7.9% after adjusting for fuel sales and foreign exchange. E-commerce comp sales soared 43.5% overall, and 42.1% after adjustments.
Stock : Costco was down 0.3% late, after gaining more than 1% immediately following the report. Shares closed down 0.9% at 186.53 in the stock market today , trading tightly for most of this month after breaking out of a saucer-with-handle base and quickly extending past a 173.19 buy point.
Costco's November same-store sales have already given investors a peek into the discounter's quarterly performance, with monthly comps up 10.8%, well above Retail Metrics' consensus for 7%.
Retail Metrics head Ken Perkins said that was Costco's "biggest monthly comp in over six years dating back to September 2011, when it posted a 12% gain."
That's especially impressive given the intense competition from Wal-Mart ( WMT ), Amazon ( AMZN ) and others.
Wal-Mart shares dipped 0.6%. Target ( TGT ) stock fell 1.2% after hitting its best levels since late February intraday. Amazon advanced 0.9%.
Wal-Mart has been consolidating tightly near record highs for the past several weeks. Amazon is holding near record highs.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
