Investors Are Giving Up on Costco Wholesale Corporation
There's a retailer that just posted a 5.7% increase in adjusted comparable sales, along with a 17.5% jump in earnings per share and a 15.8% increase in revenue, albeit aided by an extra week in the quarter.
The company beat estimates on both top and bottom lines, yet the stock fell as much as 6.3%. Under normal circumstances, this stock would be soaring, but that is not the case in today's retail environment especially when you're Costco Wholesale (NASDAQ: COST), facing off against a supercharged Amazon.com (NASDAQ: AMZN), and a resurgent Wal-Mart (NYSE: WMT).
Image source: Costco.
Source: Fool.com
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