Costco (NASDAQ: COST) released its third quarter earnings this morning for the period that ended May 12th. The retail giant beat EPS estimates by 0.97 percent at $1.04 vs. estimates of $1.03, but missed revenue by 2.73 percent at $23.55 billion vs. estimates of $24.21 billion.
Net sales for the quarter rose 8 percent year over year, to 23.55 billion. Same store sales rose five percent as compared to last year, and seven percent if gasoline and exchange rates are ignored.
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Membership fees rose by 56 million to 531 million for the quarter, contributing to revenue $1.76 billion higher year over year. Costco was able to reduce merchandising costs and selling and administrative costs slightly which helped contribute to higher income.
The firm is currently holding a conference call to discuss its third quarter.
Costco closed Wednesday at $112.95.
27% profit every 20 days?
This is what Nic Chahine averages with his option buys. Not selling covered calls or spreads… BUYING options. Most traders don’t even have a winning percentage of 27% buying options. He has an 83% win rate. Here’s how he does it.