Costco Revenue Rises 11% as Shares Slip After Earnings

Costco Wholesale reported fiscal fourth-quarter revenue of $95.72 billion, up 11% from a year earlier and above analyst expectations, while earnings per share also exceeded estimates. The results did not lift the company’s shares: they fell 1% Thursday to close at $896.48, according to reports on the trading session. For the quarter ended August 30, Costco reported earnings of $6.75 per share, compared with an analyst estimate of about $6.54. One report gave adjusted earnings of $6.60 per share and said tariff refunds contributed 15 cents per diluted share, underscoring that the earnings figures use different measures. The company’s net sales rose to $93.87 billion from $84.43 billion a year earlier. Membership-fee revenue growth slowed for a third consecutive quarter, a trend that has drawn analyst attention. Costco’s comparable sales increased 9.4% during the quarter, with growth of 11% in the United States, 7% internationally and 5% in Canada. Excluding the effects of gasoline prices and foreign-exchange movements, comparable sales rose 6.7% companywide. Digitally enabled comparable sales increased 19.