Citigroup Introduces Costco F2014 EPS

In a report released this morning regarding same store sales, Citigroup said that gasoline inflation positively impacted Costco Wholesale Corporation's COST SSS by +80 bps, and FX benefited SSS by +100 bps. “Traffic rose a little less than 5% in October, vs. 4.3% in September, and the ticket increased 1.5% (incl. gas +80 bps and FX +100bps),” Citigroup writes. “Cannibalization was approx. (-35) bps.” Citigroup is introducing its F2014 EPS estimate of $5.60 per diluted share, which is above consensus of $5.37. Costco currently trades at $65.48.