Costco Powers Past Wall Street Expectations, Boasts Double-Digit E-Commerce Gains
Costco Powers Past Wall Street Expectations, Boasts Double-Digit E-Commerce Gains
E-commerce surged 35.7% year-over-year, partly thanks to Black Friday sales booked in December due to a holiday calendar shift.Costco Wholesale Corp (NASDAQ:COST) reaffirmed its retail dominance, reporting an impressive 9.8% growth in December U.S. core sales.
好市多批发公司（纳斯达克：COST）重申了其零售主导地位，报告显示12月美国核心销售额增长了惊人的9.8%。
This result exceeded Wall Street's 5.2% estimate and topped JPMorgan's optimistic 6.7% forecast.
这一结果超出了华尔街5.2%的预期，超过了摩根大通乐观的6.7%预测。
JPMorgan analyst Christopher Horvers credited Costco's results to "market share gains, a shorter season, and a bit better consumer" working in tandem.
摩根大通分析师克里斯托弗·霍弗斯将好市多的业绩归功于“市场份额的增加、假期季节缩短，以及消费者情况有所改善”等因素的共同作用。
E-commerce surged 35.7% year-over-year, partly thanks to Black Friday sales booked in December due to a holiday calendar shift.
电子商务同比激增35.7%，部分得益于由于假期日历的变化而在12月签下的黑色星期五销售。
Meanwhile, international operations weren't far behind, with core comps climbing 10.3% in Canada and 9.8% across other regions. "No other major retailer has succeeded in every country it entered," Horvers noted, underscoring Costco's unmatched global consistency.
与此同时，国际业务也不甘落后，加拿大的核心同店销售增长了10.3%，其他地区增长了9.8%。霍弗斯指出：“没有其他大型零售商在进入每个国家时都取得成功，”这突显了好市多无与伦比的全球一致性。
Read Also: Here's How Much $1000 Invested In Costco Wholesale 10 Years Ago Would Be Worth Today
另请阅读：这是十年前投资1000美元于好市多批发，今天会值多少钱
High-Income Costco Customers
高收入好市多客户
While the shorter holiday season helped December's numbers, JPMorgan's Horvers pointed to a broader trend: improving consumer spending among higher-income shoppers.
虽然更短的假期季节帮助了12月的业绩，摩根大通的霍弗斯指出了一种更广泛的趋势：高收入消费者的消费支出正在改善。
"We believe this indicates improvement in the consumer spending backdrop, particularly the upper-middle class and higher-income consumer," he said, highlighting Costco's ability to attract these coveted segments.
"我们认为这表明消费者支出背景的改善，尤其是中高收入和高收入消费者，"他指出了好市多吸引这些受欢迎消费群体的能力。
Costco's diverse product offerings also played a major role. Fresh foods like meat and produce were up high single digits, while non-food categories—led by jewelry, toys, and gift cards—jumped to the high teens.
好市多多样的产品供应也发挥了重要作用。像家畜肉类和农产品的新鲜食品增长了高个位数，而非食品类—以珠宝、玩具和礼品卡为主—则跃升至高十位数。
Ancillary services like pharmacy and optical rebounded, benefiting from a holiday lift, and even electronics like TVs saw sequential improvement.
像药房和眼科这样的附加服务反弹，受益于假期的推动，甚至电视等电子产品也出现了连续改善。
2025 & Beyond: $1,065 In Sight
2025年及以后：目标在$1,065
Looking ahead, Horvers remains optimistic, maintaining an Overweight rating on the stock, though he adjusted the price target slightly to $1,065.
展望未来，霍弗斯仍然乐观，对该股维持超配评级，尽管他稍微调整了目标价格至$1,065。
Costco's unique ability to grow "across its box and geographies," coupled with its emerging advertising revenue stream, makes it a standout in retail. "The COST fundamental story challenges all of the best companies," Horvers emphasized.
好市多独特的能力使其"在其盒子和地域上成长，"结合其新兴的广告营业收入流，使其在零售中脱颖而出。"COSt基本故事挑战着所有的优秀公司，"霍弗斯强调道。
For investors, Costco's momentum appears unstoppable. In a world where growth is hard to come by, Horvers said it best: "Aside from AMZN, no scaled retailer is growing at this pace."
对于投资者而言，好市多的势头似乎势不可挡。在一个难以获得增长的世界里，霍弗斯说得很好："除了亚马逊，没有其他规模零售商以这种速度增长。"
The retail king is poised to stay on its throne, and for shareholders, the journey to $1,065 looks well within reach.
这位零售之王准备继续坐稳王 throne，对于股东而言，达到$1,065的旅程看起来触手可及。
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Image: Shutterstock
图片：shutterstock
