Costco Q1 profitmisses analysts’ estimates
Costco Wholesale Corp, the largest warehouse-club chain in the United States, reported first-quarter earnings that missed analysts’ estimates after sales slowed. Net income fell 3.2 percent to $480 million, or $1.09 a share, the Issaquah, Washington-based company said. Analysts estimated $1.17 a share on average, according to Bloomberg data. The disappointing results come at a shaky time for the US retail industry. Consumer spending at brick-and-mortar stores fell 10 percent to $20.4 billion over the four-day Thanksgiving weekend.