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Costco (COST) 1Q17 Results: EPS Misses Expectations; Store Traffic Up

Executive Summary

  • Costco reported adjusted 1Q17 EPS of $1.17, below the $1.19 consensus estimate and up 6.8% year over year. Revenues were $28.1 billion, up 3.2% year over year and roughly in line with the consensus estimate.
  • Total comps for the quarter were up 1%; US comps were up 1%, Canada comps were up 4% and international comps were flat.
  • The company saw increases in store traffic and higher sales of fresh foods, although it suffered from decreased traffic during the first two weeks of November due to the presidential election.

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