<p>好市多（Costco Wholesale Corp.）已召開其第一季度財報電話會議。請繼續閲讀會議的主要亮點。</p>
<h3>享受 TipRanks Premium 50% 折扣，放心投資</h3>
<ul>
<li>解鎖對沖基金級別的數據和強大的投資工具，幫助您做出更明智、更精準的決策</li>
<li>通過最新的新聞和分析保持市場領先，使您的投資組合始終處於最大潛力的狀態</li>
</ul>
<p>好市多最近的財報電話會議描繪了強勁的財務健康狀況，淨收入、銷售額和數字參與度均實現了令人印象深刻的增長。公司通過新倉庫的開設和會員費收入的增加成功擴大了市場份額。然而，續費率下降和醫療成本上升等挑戰引發了一些擔憂。總體而言，積極的發展掩蓋了負面因素，表明公司前景普遍樂觀。</p>
<h2>強勁的淨收入和銷售增長</h2>
<p>好市多報告第一季度淨收入顯著增長，達到 20.01 億美元，或每股攤薄收益 4.5 美元，而去年同期為 17.98 億美元，或每股攤薄收益 4.04 美元。這一增長在淨銷售額中得到了體現，淨銷售額同比增長 8.2%，從 609.9 億美元上升至 659.8 億美元，突顯了公司的強勁財務表現。</p>
<h2>數字銷售激增</h2>
<p>公司的數字參與度顯著提升，數字化可比銷售增長了 20.5%。這得益於網站流量增長 24% 和應用程序流量增長 48%，表明好市多的數字戰略與消費者產生了良好的共鳴。</p>
<h2>會員費收入增長</h2>
<p>好市多的會員費收入同比增長 14%，達到 13.29 億美元。這一增長得益於會員數量的增加和對高級會員的升級，展示了公司提升會員價值主張的能力。</p>
<h2>新倉庫開設成功</h2>
<p>公司新開設了八個倉庫，使全球總數達到 921 個。這些新開設的倉庫預計每個倉庫每年將產生 1.92 億美元的銷售額，反映了好市多的戰略擴張努力。</p>
<h2>續費率下降</h2>
<p>儘管增長積極，但好市多的續費率略有下降，美國和加拿大的續費率為 92.2%，全球續費率為 89.7%。這一下降歸因於新在線會員的續費率較低，給公司的會員保留策略帶來了挑戰。</p>
<h2>醫療成本上升的影響</h2>
<p>醫療成本的上升成為一個阻力，增長速度超過了銷售。這對好市多的成本管理工作構成了挑戰，影響了公司的整體財務槓桿。</p>
<h2>西班牙的挑戰</h2>
<p>在西班牙，建築項目的延誤導致對 2026 財年計劃新開倉庫數量的修訂，減少至 28 個。這突顯了好市多在國際擴張中面臨的一些運營挑戰。</p>
<h2>前瞻性指導</h2>
<p>展望未來，好市多對其增長軌跡保持樂觀。公司計劃繼續進行國際和國內擴張，每年新開設超過 30 個倉庫。此外，技術和數字化的提升，包括在藥房和加油站運營中整合人工智能，預計將推動運營效率和銷售增長。儘管面臨醫療成本上升等挑戰，好市多致力於為其會員提供價值，並保持強勁的市場表現。</p>
<p>總之，好市多的財報電話會議反映出普遍積極的情緒，強勁的財務表現和戰略增長舉措。儘管存在續費率下降和醫療成本等挑戰，但公司的數字參與度和會員增長為持續成功提供了堅實的基礎。</p>

開市客

<p>Costco 的第一季度財報電話會議強調了強勁的財務表現，淨收入上升至 20.01 億美元，淨銷售額增長 8.2%，達到 659.8 億美元。數字銷售激增 20.5%，會員費收入增長 14%。公司新開了八個倉庫，但面臨着續費率下降和醫療成本上升的挑戰。儘管如此，Costco 依然保持樂觀，計劃每年開設超過 30 個新倉庫，並提升數字業務。總體而言，財報電話會議反映了 Costco 增長軌跡的積極前景</p>

<p>Costco Wholesale Corp. ((COST)) has held its Q1 earnings call. Read on for the main highlights of the call.</p>
<div class="lb-trans"><p>好市多（Costco Wholesale Corp.）已召開其第一季度財報電話會議。請繼續閲讀會議的主要亮點。</p>
</div><h3>Claim 50% Off TipRanks Premium and Invest with Confidence</h3>
<div class="lb-trans"><h3>享受 TipRanks Premium 50% 折扣，放心投資</h3>
</div><ul>
<li>Unlock hedge-fund level data and powerful investing tools designed to help you make smarter, sharper decisions</li>
<li>Stay ahead of the market with the latest news and analysis so your portfolio is always positioned for maximum potential</li>
</ul>
<div class="lb-trans"><ul>
<li>解鎖對沖基金級別的數據和強大的投資工具，幫助您做出更明智、更精準的決策</li>
<li>通過最新的新聞和分析保持市場領先，使您的投資組合始終處於最大潛力的狀態</li>
</ul>
</div><p>Costco’s recent earnings call painted a picture of robust financial health, underscored by impressive growth in net income, sales, and digital engagement. The company has successfully expanded its footprint with new warehouse openings and increased membership fee income. However, challenges such as declining renewal rates and rising healthcare costs posed some concerns. Overall, the positive developments overshadowed the negatives, suggesting a generally favorable outlook for the company.</p>
<div class="lb-trans"><p>好市多最近的財報電話會議描繪了強勁的財務健康狀況，淨收入、銷售額和數字參與度均實現了令人印象深刻的增長。公司通過新倉庫的開設和會員費收入的增加成功擴大了市場份額。然而，續費率下降和醫療成本上升等挑戰引發了一些擔憂。總體而言，積極的發展掩蓋了負面因素，表明公司前景普遍樂觀。</p>
</div><h2>Strong Net Income and Sales Growth</h2>
<div class="lb-trans"><h2>強勁的淨收入和銷售增長</h2>
</div><p>Costco reported a significant increase in net income for the first quarter, reaching $2.001 billion or $4.5 per diluted share, compared to $1.798 billion or $4.04 per diluted share in the previous year. This growth was mirrored in net sales, which rose by 8.2% to $65.98 billion from $60.99 billion, highlighting the company’s strong financial performance.</p>
<div class="lb-trans"><p>好市多報告第一季度淨收入顯著增長，達到 20.01 億美元，或每股攤薄收益 4.5 美元，而去年同期為 17.98 億美元，或每股攤薄收益 4.04 美元。這一增長在淨銷售額中得到了體現，淨銷售額同比增長 8.2%，從 609.9 億美元上升至 659.8 億美元，突顯了公司的強勁財務表現。</p>
</div><h2>Digital Sales Surge</h2>
<div class="lb-trans"><h2>數字銷售激增</h2>
</div><p>The company’s digital engagement saw a remarkable boost, with digitally enabled comparable sales increasing by 20.5%. This was driven by a 24% rise in site traffic and a 48% increase in app traffic, indicating that Costco’s digital strategy is resonating well with consumers.</p>
<div class="lb-trans"><p>公司的數字參與度顯著提升，數字化可比銷售增長了 20.5%。這得益於網站流量增長 24% 和應用程序流量增長 48%，表明好市多的數字戰略與消費者產生了良好的共鳴。</p>
</div><h2>Membership Fee Income Growth</h2>
<div class="lb-trans"><h2>會員費收入增長</h2>
</div><p>Costco’s membership fee income grew by 14% year over year, reaching $1.329 billion. This increase was fueled by both membership growth and upgrades to executive memberships, showcasing the company’s ability to enhance its value proposition to members.</p>
<div class="lb-trans"><p>好市多的會員費收入同比增長 14%，達到 13.29 億美元。這一增長得益於會員數量的增加和對高級會員的升級，展示了公司提升會員價值主張的能力。</p>
</div><h2>Successful New Warehouse Openings</h2>
<div class="lb-trans"><h2>新倉庫開設成功</h2>
</div><p>The company opened eight new warehouses, bringing its global total to 921. These new openings are expected to generate an annualized $192 million per warehouse in sales, reflecting Costco’s strategic expansion efforts.</p>
<div class="lb-trans"><p>公司新開設了八個倉庫，使全球總數達到 921 個。這些新開設的倉庫預計每個倉庫每年將產生 1.92 億美元的銷售額，反映了好市多的戰略擴張努力。</p>
</div><h2>Renewal Rate Decline</h2>
<div class="lb-trans"><h2>續費率下降</h2>
</div><p>Despite the positive growth, Costco faced a slight decline in renewal rates, with US and Canada rates at 92.2% and worldwide rates at 89.7%. This decline was attributed to lower renewal rates among new online members, posing a challenge for the company’s membership retention strategy.</p>
<div class="lb-trans"><p>儘管增長積極，但好市多的續費率略有下降，美國和加拿大的續費率為 92.2%，全球續費率為 89.7%。這一下降歸因於新在線會員的續費率較低，給公司的會員保留策略帶來了挑戰。</p>
</div><h2>Higher Healthcare Costs Impact</h2>
<div class="lb-trans"><h2>醫療成本上升的影響</h2>
</div><p>Higher healthcare costs emerged as a headwind, growing at a faster pace than sales. This posed a challenge to Costco’s cost management efforts, impacting the company’s overall financial leverage.</p>
<div class="lb-trans"><p>醫療成本的上升成為一個阻力，增長速度超過了銷售。這對好市多的成本管理工作構成了挑戰，影響了公司的整體財務槓桿。</p>
</div><h2>Challenges in Spain</h2>
<div class="lb-trans"><h2>西班牙的挑戰</h2>
</div><p>In Spain, delays in building projects led to a revision of planned net new openings for fiscal year 2026, reducing the number to 28. This highlights some of the operational challenges Costco faces in its international expansion.</p>
<div class="lb-trans"><p>在西班牙，建築項目的延誤導致對 2026 財年計劃新開倉庫數量的修訂，減少至 28 個。這突顯了好市多在國際擴張中面臨的一些運營挑戰。</p>
</div><h2>Forward-Looking Guidance</h2>
<div class="lb-trans"><h2>前瞻性指導</h2>
</div><p>Looking ahead, Costco remains optimistic about its growth trajectory. The company plans to continue its international and domestic expansion with over 30 net new warehouse openings annually. Additionally, technology and digital enhancements, including AI integration in pharmacy and gas operations, are expected to drive operational efficiency and sales growth. Despite challenges like rising healthcare costs, Costco is committed to delivering value to its members and maintaining strong market performance.</p>
<div class="lb-trans"><p>展望未來，好市多對其增長軌跡保持樂觀。公司計劃繼續進行國際和國內擴張，每年新開設超過 30 個倉庫。此外，技術和數字化的提升，包括在藥房和加油站運營中整合人工智能，預計將推動運營效率和銷售增長。儘管面臨醫療成本上升等挑戰，好市多致力於為其會員提供價值，並保持強勁的市場表現。</p>
</div><p>In conclusion, Costco’s earnings call reflects a generally positive sentiment, with strong financial performance and strategic growth initiatives. While challenges such as declining renewal rates and healthcare costs exist, the company’s robust digital engagement and membership growth provide a solid foundation for continued success.</p>
<div class="lb-trans"><p>總之，好市多的財報電話會議反映出普遍積極的情緒，強勁的財務表現和戰略增長舉措。儘管存在續費率下降和醫療成本等挑戰，但公司的數字參與度和會員增長為持續成功提供了堅實的基礎。</p>
</div>

開市客的財報電話會議：在挑戰中實現強勁增長