Jim Cramer Thinks Consumers Are Hooked on Costco
Costco (COST) reported earnings after the bell on Thursday, Dec. 11.
The company reported adjusted earnings of $2.29 a share compared with the consensus estimate of $2.09 a share in a FactSet survey. Revenue of $43.21 billion beat the estimate of $43.08 billion.
E-commerce sales jumped 86.4% year over year as the company focused on its digital business amid the in-store disruption caused by coronavirus-related lockdowns across the country.
However, Costco did disclose, "this year’s results reflect an expense for COVID-19 premium wages of pre-tax or per diluted share."
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