Costco’s March Sales Jump. E-Commerce Is Taking Off. — Barrons.com
By Sabrina Escobar Costco Wholesale’s sales jumped nearly 10% in March compared with a year ago, giving the stock a modest lift in Wednesday’s after-hour trading session. Net sales jumped 9.4% year over year to $23.5 billion, accelerating from February’s 6.9% rise. Same-store sales — a key metric for retailers that measures sales in stores open for more than a year — rose 7.7% in March. This also marked faster growth from February, which saw same-store sales increase 5%. The board of directors increased the company’s quarterly dividend by about 14% to $1.16 per share from $1.02 per share. The dividend is payable May 10 to investors holding the shares at the close of business April 26. Costco stock ticked up 0.7% to $727.50 in after-hours trading. The shares have gained 9.4% this year, modestly outstripping the S&P 500’s 8.2% rise. An improvement in store visits likely helped boost March’s […]
Costco’s March Sales Jump. E-Commerce Is Taking Off. — Barrons.com Read Post »