Costco Wholesale Corporation (NASDAQ: COST) on Thursday reported a 2% increase in third-quarter 2023 revenues. However, the warehouse behemoth’s earnings declined.
Third-quarter revenue increased 1.9% to $53.6 billion from $52.6 billion last year. Total comparable store sales grew 0.3%, while e-commerce sales declined 10%.
The company’s net income declined to $1.30 billion or $2.93 per share in the April quarter from $1.35 billion or $3.04/share in the third quarter of 2022.
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