It's almost the end of the year, and investors are probably ready to move on from 2022 as the S&P 500 is down 16% as of this writing. With inflation still running hot, the Federal Reserve hiking interest rates, and an economy that continues to soften, it can be a scary time for people looking to invest their hard-earned dollars.
In this environment, safety and stability should be prioritized. If a company has the potential for growth as well, it doesn't hurt. With $1,000 ready to put to work, investors should seriously consider buying shares of Costco Wholesale (NASDAQ: COST) in 2023.
In Costco's fiscal 2022 fourth quarter, the retail juggernaut posted net revenue of $70.8 billion, up 15.2% from the prior-year period. Same-store sales, also known as comps, jumped 14.4%. And diluted earnings per share (EPS) came in at $4.20, good for an increase of 11.7%.
Source Fool.com