3 Takeaways From Costco's Q4 Results
This is a great time to be a bulk retailer. Costco Wholesale (NASDAQ: COST) on Thursday announced that its sales and profit metrics saw a continued lift from coronavirus-related demand spikes across categories like fresh food and consumer electronics in its fiscal fourth quarter. The pandemic pressured customer traffic at stores through late August, but shoppers are spending much more per visit while supplementing those trips with frequent digital ordering.
That sales boost, plus Costco's strong membership metrics, imply solid returns for investors over the next fiscal year.
Investors already knew that Costco grew comparable-store sales by 14% for the fiscal fourth quarter thanks to its practice of releasing monthly revenue updates. That result put it slightly ahead of Walmart's (NYSE: WMT) Sam's Club but behind smaller chains like BJ's Wholesale Club and Kroger through August.
Source Fool.com
