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Costco posts Q2 revenue beat, online sales surge 75.8%

Julia La Roche
·Correspondent
·1 min read
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Costco (COST) reported better-than-expected second-quarter revenue after the closing bell on Thursday, benefitting from a strong holiday season and a continuation in the stay-at-home trend.

Here are the results versus the estimates, according to Bloomberg:

  • Revenue: $44.77 billion vs. $43.8 billion expected

  • Adjusted EPS: $2.14 vs. $2.45 expected

For the second quarter ended Feb. 14, the membership warehouse retailer reported total revenues of $44.77 billion, compared to $39.07 billion a year ago. Membership fees accounted for $881 million of total revenue, versus $816 million a year ago. Net sales for the second quarter increased 14.7%, to $43.89 billion, compared to $38.26 billion last year.

Costco reported earnings per share of $2.14, which included 41 cents in costs incurred from COVID-19 premium wages, the retailer noted. This week, Costco boosted its starting minimum wage by $1 to $16 an hour.

E-commerce surged 75.8% during the quarter versus a year ago.

Comparable store sales came in at 13% for the quarter, with comp sales in the U.S. growing 11.4%, while Canada and other international grew 13.4% and 21.5%, respectively.

Shares of Costco dipped 0.09%, or 29 cents, to last trade near $318.75 in the after-hours session.

Shoppers walk into a Costco store, Wednesday, March 3, 2021, in Tacoma, Wash. Costco Wholesale Corp. reports earnings results, Thursday, March 4, 2021. (AP Photo/Ted S. Warren)
Shoppers walk into a Costco store, Wednesday, March 3, 2021, in Tacoma, Wash. Costco Wholesale Corp. reports earnings results, Thursday, March 4, 2021. (AP Photo/Ted S. Warren)

Julia La Roche is a correspondent for Yahoo Finance. Follow her on Twitter.