Costco earnings miss estimates

ISSAQUAH, Wash. — Costco Wholesale Corp. announced that Q3 net sales increased 7.3 percent to $36.45 billion, compared to $33.96 billion last year. Comp sales in Canada declined by 2.5 percent but rose three percent on an adjusted basis. Earnings of $1.89 per share fell short of analyst expectations of $1.92 per share. In a bid to entice customers, the company also announced it will reopen most of its remaining food courts by mid-June as well as starting a “slow rollout” of in-store food samples, modified to respect sanitation protocols.