Costco reported their fiscal Q2 results on March 6th, with net sales increasing 9.1% to $62.5B and comparable store sales reaching +8.6% – the highest of the calendar year.
Overall earnings came in short of analyst expectations as margins were affected by higher supply chain costs from increasing inventory, contributing to the stock declining ~7%. We remain bullish on Costco’s performance as they continue to deliver quality, value, and newness that consumers seek.
Costco’s fiscal year runs from September to August, making their fiscal Q2 which ended February 16, 2024, comparable to other retailers’ Q4 results.
Download Harvest Group’s full earnings recap with unique takeaways for suppliers here:
