Why Costco Stock Was Down on Friday
Costco Wholesale (NASDAQ: COST) investors were in the red on Friday. The retailer's stock fell 2% by 3 p.m. ET compared with a 0.6% decline in the S&P 500. That drop pushed the stock down further in 2022, although shares are modestly outperforming the market's 13% loss so far this year.
Friday's dip came as investors grew more concerned about Costco's upcoming earnings report.
The retail giant is slated to announce fiscal first-quarter results on Dec. 8, and expectations are muted heading into the report. Yes, Costco is still growing sales. Shoppers are increasingly visiting its warehouses as they look for ways to minimize the impact of inflation.
Source Fool.com
