Costco July Same-Store Sales Rise 8.9%, Net Sales Up 11%
COST is trading near its 52-week low of $844.06 (13% above the low).
Summary
Costco's July same-store sales rose 8.9%, a slight uptick from June's 8.8% but a deceleration from the double-digit gains in April and May. Net sales hit $23.12 billion, up nearly 11% year-over-year. The sequential slowdown in comp growth, while still healthy, may raise questions about consumer spending momentum heading into the back half of the year. This follows a string of strong monthly sales reports and a Q3 earnings beat in May. The next catalyst is the August sales report, due in about a month.
At the time of this announcement, COST was trading at $950.00 on NASDAQ in the Trade & Services sector, with a market capitalization of approximately $417.8B. The 52-week trading range was $844.06 to $1,096.50. This news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: Dow Jones Newswires.