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Industry NewsCostco misses Q2 revenue estimates overall, but Canada fares better

Costco misses Q2 revenue estimates overall, but Canada fares better

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Costco posted fiscal second-quarter earnings results Thursday, March 2 as reported by Reuters and yahoo!news. Shares were down more than 2 per cent after the release overall for the wholesale retailer, however, Canada sales were up 9.6 per cent versus up 5.51 per cent expected.

As consumers sought out value and moved away from discretionary spending, the wholesale retailer saw a slight miss in quarterly revenue, coming in at $55.27 billion, but up 6.5 per cent from a year ago. Meanwhile, net sales saw a 6.5 per cent increase, to $54.24 billion, up from $50.04 billion.

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