Investing.com – Costco (NASDAQ:) topped fiscal second-quarter earnings and sales expectations Thursday and said it saw a late boost in sales due to customers buying extra goods in preparation any impact to daily life the novel coronavirus might have.
Shares gained 0.8% in after-hours trading.
Costco announced per share of $2.1 on revenue of $39.07 billion. Analysts polled by Investing.com anticipated EPS of $2.07 on revenue of $38.23 billion. That compared to EPS of $2.01 on revenue of $35.4 billion in the same period a year before.
Comparable sales, adjusted for a late Thanksgiving, rose 7.9% overall for the quarter. U.S. comparable sales rose 8.1%.
“February sales benefited from an uptick in consumer demand in the fourth week of the reporting period,” the company said. “We attribute this to concerns over the (c)oronavirus and estimate the positive impact on total and comparable sales…