Costco Wholesale misses quarterly revenue estimates


(Reuters) – Costco Wholesale Corp missed Wall Street expectations for quarterly revenue on Thursday, as consumers restrict their spending on discretionary items amid persistently high inflation.

The membership-only retail chain’s total revenue for the second quarter was $55.27 billion, compared with estimates of $55.54 billion, according to Refinitiv data.

(Reporting by Granth Vanaik in Bengaluru; Editing by Krishna Chandra Eluri)