Costco reported lower-than-expected sales in its fourth quarter and fiscal year.
The warehouse giant on Wednesday reported net sales of $35.7 billion for its quarter ended Aug. 28.
That was up 2 percent from $35 billion in the same period a year ago, but fell below analysts’ expectations of $37.2 billion, according to a Reuters consensus estimate.
Costco’s fiscal year sales of $116.1 billion also fell below analysts’ estimates of $119.3 billion. The sales figure represented a 2 percent increase, however, from the $113.7 billion logged last year.
