Costco quarterly revenue misses estimates
In this article:
Dec 13 (Reuters) - Warehouse club operator Costco Wholesale Corp on Thursday reported quarterly revenue below Wall Street estimates, as it cut prices and invested more in its online business to compete with Amazon and Walmart.
Total revenue rose 10.2 percent to $35.07 billion, missing estimates of $34.80 billion, according to IBES data from Refinitiv.
Comparable-store sales, excluding the impact of fuel and currency changes, rose 7.5 percent for the first quarter ended Nov. 25, well above analysts' average estimate of 5.8 percent. (Reporting by Nivedita Balu in Bengaluru; Editing by Anil D'Silva)
