Costco will return potential import tariff refunds to members through lower prices following recent Supreme Court rulings. CEO Ron Vachris confirmed the company will use recovered charges to enhance customer value.
The retailer reported second-quarter earnings on March 5. Earnings per share reached $4.58, surpassing analyst expectations. Net sales increased by 9.1% during the period. The company also recorded growth in both membership figures and e-commerce sales.
JP Morgan raised its price target for Costco to $1,060 following the announcement and earnings results.