Why Costco Wholesale Stock Was Up Earlier Today
Shares of Costco Wholesale (NASDAQ: COST) were up more than 2% this morning after the company reported sales results for the month of January. Sales came in at $16.84 billion, up 6.9% over the same period last year. On a three-year growth basis, sales were up at a compound annual rate of 16.3%.
The market was up strongly at the time of writing, but Costco gave back most of its gains on the day. That could be due to the decelerating sales growth the company has been reporting in recent months.
Analysts responded positively to the report, as Costco shows signs of maintaining year-over-year sales increases despite tough comparisons. A year ago, Costco reported January sales growth of 15.5% year over year.
Source Fool.com
