Список проголосовавших за комментарий " <table class="BriefingDataTable" border="0" cellspacing="0" cellpadding="0"><tr> <td class="tickerColumn"> </td> <td class="articleColumn">Costco: Color on Qtr (171.42 -6.57)<ul><li><strong>RBC Capital raises its tgt to $182 from $177.</strong> 2Q was below expectations with EBIT down slightly YOY and $s ~10% below firm's forecast. Firm expects the stock to trade off given these disappointing results. However, it has seen this movie before as the company's thin-margin structure often leads to significant earnings volatility. Further, the increased membership fees should help boost member value and profitability. <strong>Firm is buyers on the expected pullback.</strong></li><li><strong>Telsey Advisory Group</strong> notes Costco's adjusted 2QF17 EPS of $1.17 fell short of firm's in line estimate of $1.36, primarily due to gross margin contraction of 24 bps YoY to 11.0% vs. TAG's 11.4% estimate—the result of lower gas profitability and investment in prices to highlight value. In addition, 2QF17 EPS was impacted by a slightly lower comp (3.0% vs. FactSet at 3.3%), lower membership fee income growth (5.5% vs. FactSet at 6.4%), and a higher tax rate, partly offset by SG&A expense ratio leverage (4 bps YoY to 10.1% vs. firm's estimate of 10.2%), the first time since 4QF14. Although the magnitude of the gross margin contraction is disappointing, the improvement in expense management is encouraging and should continue to support the operating margin in FY17 as Costco laps wage increases starting in March 2017 and continues to benefit from lower interchange fees and profit-sharing related to the Costco Anywhere Visa Card by Citibank.</li></ul><p><em>Shares of COST are down approx 3% in reaction to earnings and are attempting to hold the $170 level for support. </em></p></td> </tr></table>"