Costco Wholesale (COST) is down 2.7% to $225.33 after reporting fourth-quarter earnings. The discounter earned $2.36 a share on revenue of $44.41 billion. Analysts were expecting earnings of $2.34 a share on revenue of $44.17 billion. However, it warned it will report material weakness in internal financial control in its coming 10K. That said, Moody’s also upgraded Costco’s debt, to Aa3.
Can someone explain what "material weakness" means in this context?
Submitted October 05, 2018 at 01:45PM by BigOlDaddy https://ift.tt/2NsacOy
