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Costco banking on loyalty amid inflation, recession fears

Added 09-25-22 06:04:03pm EST - “Costco customers seem to be swallowing the cost of membership fees to gain access to the wholesale retailer.” - News.yahoo.com

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Posted By TheNewsCommenter: From News.yahoo.com: “Costco banking on loyalty amid inflation, recession fears”. Below is an excerpt from the article.

Costco (COST) customers seem to be swallowing the cost of membership fees to gain access to the wholesale retailer.

In the company’s fiscal fourth-quarter earnings report, it beat on both the top and bottom line with reported revenue of $72.09 billion dollars, slightly higher than Bloomberg estimates of $71.89 billion, and adjusted earnings per share of $4.20, higher than estimates of $4.14.

Wall Street analysts are confident in Costco's ability to keep the momentum going, despite shares dropping 2 percent in after-market trading Thursday.

In a note to investors, Goldman Sachs reiterated its Buy rating with an updated 12-month price target of $548, citing that top-line trends remain healthy, supported by membership gains.

“We continue to have confidence in COST’s value proposition resonating with consumers, while the company’s scale and limited SKU model enable it to manage current inflationary cost pressures,” the note said.

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