Costco Wholesale Corp (NASDAQ: COST) is set to report its fiscal first-quarter results after markets close on Wednesday, Dec. 3, with Telsey Advisory Group saying the company "continues to execute well in this uncertain operating environment."
The Costco Wholesale Analyst: Analyst Joseph Feldman maintained an Outperform rating and a $1,100 price target.
The Costco Wholesale Thesis: The company is likely to continue gaining market share profitably, with solid sales and the high membership renewal rates among its total members of around 145 million, Feldman said in the note.
Costco is likely to report total comp growth of 7.3%, accelerating from 3.1% last year. The analyst estimates core merchandise comp at 7.2% and core US comp at 7%, he added.
Feldman expects traffic to be up 4% vs. 3% last year, as consumers visit more frequently “in search of value.”
Costco Wholesale's average ticket size is likely up 3.3%, supported by inflation and "positive trends across product categories," he further said.
COST Price Action: Shares of Costco Wholesale had declined by 0.62% to $907.89 at the time of publication on Monday.
**Costco Wholesale Corp (NASDAQ: COST)** is set to report its fiscal first-quarter results after markets close on Wednesday, Dec. 3, with Telsey Advisory Group saying the company "continues to execute well in this uncertain operating environment."
**The Costco Wholesale Analyst:** Analyst Joseph Feldman maintained an Outperform rating and a $1,100 price target.
**The Costco Wholesale** **Thesis:** The company is likely to continue gaining market share profitably, with solid sales and the high membership renewal rates among its total members of around 145 million, Feldman said in the note.
Costco is likely to report total comp growth of 7.3%, accelerating from 3.1% last year. The analyst estimates core merchandise comp at 7.2% and core US comp at 7%, he added.
Feldman expects traffic to be up 4% vs. 3% last year, as consumers visit more frequently “in search of value.”
Costco Wholesale's average ticket size is likely up 3.3%, supported by inflation and "positive trends across product categories," he further said.
**COST Price Action:** Shares of Costco Wholesale had declined by 0.62% to $907.89 at the time of publication on Monday.
<p><strong>Costco Wholesale Corp <a class="ticker-link" data-ticker="COST" data-exchange="NASDAQ" href="https://www.benzinga.com/quote/COST" target="_blank" rel="noopener">(NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/COST">COST</a>)</a> </strong>is set to report its fiscal first-quarter results after markets close on Wednesday, Dec. 3, with Telsey Advisory Group saying the company "continues to execute well in this <a href="https://www.benzinga.com/topic/retail">uncertain operating environment</a>."</p>
<p><strong>The Costco Wholesale Analyst:</strong> <a href="https://www.benzinga.com/analyst-stock-ratings/analyst/5e301e08430dee0001c88c8d/joseph-feldman">Analyst Joseph Feldman</a> maintained an Outperform rating and a $1,100 price target.</p>
<p><strong>The Costco Wholesale </strong><strong>Thesis: </strong>The company is likely to continue gaining market share profitably, with solid sales and the high membership renewal rates among its total members of around 145 million, Feldman said in the note.</p>
<p><strong>Check out <a href="https://www.benzinga.com/analyst-stock-ratings">other analyst stock ratings</a></strong>.</p>
<p>Costco is likely to report total comp growth of 7.3%, accelerating from 3.1% last year. The analyst estimates core merchandise comp at 7.2% and core US comp at 7%, he added.</p>
<p>Feldman expects traffic to be up 4% vs. 3% last year, as consumers visit more frequently “in search of value.”</p>
<p>Costco Wholesale's average ticket size is likely up 3.3%, supported by inflation and "positive trends across product categories," he further said.</p>
<p><strong>COST Price Action:</strong> Shares of Costco Wholesale had declined by 0.62% to $907.89 at the time of publication on Monday.</p>
<p><strong>Read More:</strong></p>
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<li><strong><u><a href="https://www.benzinga.com/news/topics/25/11/49127773/the-costco-effect-highlights-how-new-costco-stores-transform-local-economies-surrounding-businesses-raise-wages-up-to-40-more">Costco Effect Highlights How New Costco Stores Transform Local Economies: ‘Surrounding Businesses Raise Wages Up To 40% More’</a></u></strong></li>
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<p><em>Image: Shutterstock</em></p>