Costco Is Falling, but This Retail Stock Is Looking Mighty Comfortable
It's been a tumultuous month for the stock market, and investors are doing their best to try to stay calm as major market benchmarks have fallen sharply in September. stock index futures suggested that Wednesday morning could bring a small bounce. Yet market participants still seem on edge about the state of the economy and the impact that policymakers have had on macroeconomic prospects in the near future.
Consumers are getting a lot of attention from Wall Street, because so far, that portion of the economy has held up the best. Yet as the latest financial report from Costco Wholesale (NASDAQ: COST) showed, even consumers are starting to feel the pressure from persistent inflation. Still, some parts of the retail industry are seeing signs of a turnaround, and the results from MillerKnoll (NASDAQ: MLKN) indicated one pocket of potential future strength there. Read on for the latest details.
Shares of Costco Wholesale were down about 2% in premarket trading Wednesday morning. The warehouse retail giant reported fiscal fourth-quarter financial results for the period ended Sept. 3 that featured continued growth but at a slowing pace.
Source Fool.com
