Overview

• Warehouse retailer's fiscal Q1 net sales rose 8.2% yr/yr

• Net income for fiscal Q1 increased to $2,001 mln, $4.50 per diluted share

• Fiscal Q1 adjusted comparable sales grew 6.4%

Outlook

• Costco did not provide specific guidance for future quarters or the full year

Result Drivers

• STRONG INTERNATIONAL SALES - Comparable sales growth was robust in Canada and other international regions, contributing to overall sales increase

• DIGITAL SALES GROWTH - Digitally-enabled sales surged 20.5%, significantly boosting overall sales

Key Details

Analyst Coverage

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 22 "strong buy" or "buy", 16 "hold" and no "sell" or "strong sell"

• The average consensus recommendation for the discount stores peer group is "buy"

• Wall Street's median 12-month price target for Costco Wholesale Corp is $1,050.00, about 20.1% above its December 10 closing price of $874.41

• The stock recently traded at 42 times the next 12-month earnings vs. a P/E of 47 three months ago

Press Release: ID:nGNX2zzSg

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)