Costco Wholesale Corporation (NASDAQ:COST) shares slid in extended trading Tuesday despite the retailer's fiscal fourth-quarter results topping expectations.
The company posted earnings of $4.86 per share, up from $4.20 per share a year earlier and ahead of Street expectations of $4.79. Revenue was $7.9 billion, compared to $7.2 billion in the year-ago quarter and expectations of $7.8 billion.
Comparable sales grew 0.2% in the US, 1.8% in Canada and 5.5% outside North America. Meanwhile, ecommerce sales fell 0.8%.
Investors may have been unnerved by the lack of guidance in Costco’s statement accompanying its results. Analysts will certainly ask for updates on consumer spending and membership signups at its 5 pm ET earnings call.
Costco stock dropped 1.5% to $544.50 after hours following a 1% decline during the Tuesday session.
Contact Andrew Kessel at andrew.kessel@proactiveinvestors.com
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