Costco topped quarterly revenue & earnings expectations due to steady grocery demand, despite weaker trends on discretionary & big-ticket items. Underlying positive sentiment for the end of Costco’s fiscal year was anchored by positive momentum for traffic & membership growth and an increase in their mix of Executive Memberships.
*Note: Costco’s fiscal year runs from September to August, making their fiscal Q4 (17 weeks from mid-May to early September) comparable to other retailers’ Q2 results.
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