PREVIEW: Costco Wholesale expected to report strong sale growth, shares edge higher

Shares of Costco Wholesale COST.O rise 0.7% at $880.54 on Wednesday ahead of its quarterly results due after markets close

COST is expected to report 8% growth in revenue to $67.1 bln driven by strong sales in the U.S., its largest market. Adj EPS is expected to rise ~6% to $4.27

Over the last 8 quarters, COST's rev has met or beaten estimates 6 times while adj EPS has surpassed expectations 7 times in the same period

COST has sued the U.S. government to ensure it will receive refunds if the Supreme Court rejects President Donald Trump's bid for sweeping authority to impose tariffs

Among 38 analysts covering COST, with avg rating of "BUY" and median PT is $1,050, per LSEG data

COST is down 3.9% YTD versus 2.1% rise in S&P 500 consumer staples index .SPLRCS