Costco (NASDAQ: COST) stock seems unstoppable. Even though the business's growth levels have fallen short of past years, the retail stock is up 30% so far this year.

Still, investors have to remember that Costco grows its warehouse count relatively slowly, counting on renewals and increasing sales at razor-thin margins to drive its growth. Will such an approach be enough to grow the stock price by another 30% in the second half of 2024? Let's take a closer look.

Costco is one of the world's most successful retailers. Its array of high-quality, low-cost goods, most of which are recession-resistant, keeps customers going back to its warehouse clubs.

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Source Fool.com