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Costco Wholesale (COST) Fiscal 2Q17 Results: Misses on EPS, Raises Membership Fees

Executive Summary

  • Costco reported fiscal 2Q17 EPS of $1.17, versus $1.24 in the year-ago quarter and missing the $1.36 consensus estimate. Revenues were $29.8 billion, down 5.7% year over year and roughly in line with the consensus estimate.
  • Comps were up 3%, below the 3.5% consensus estimate, comprising an increase of 3% in the US, an increase of 8% in Canada and a decrease of 2% in other international regions.
  • In addition, the company announced that it will raise the price of a Business membership by $5, to $60, and the price of an Executive membership by $10, to $120, effective June 1.

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