Costco Stock Up After Strong Sales

Costco Costco Wholesale Corp. (NASDAQ: COST) is an American membership warehouse operator. It offers general groceries and consumer products throughout its outlets in the United States, Canada, and select international markets.

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The Coronavirus Pandemic has dulled consumer spending, but some essential retailers are still generating strong results. Costco is one of them. It released its latest quarterly earnings on Wednesday, reporting year over year revenue growth of 14%. Same store sales were up 13.2% across all markets. eCommerce sales were particularly strong. With millions of Americans working from home or under strict lockdown orders, the company saw a 75.3% increase in online sales.

Essential businesses, especially those that provide groceries and basic consumer goods, can flourish during the health crisis. Costco has proven that its membership sales model is still viable, even in a struggling economy. The stock gained 1.76% in after-hours trading on Wednesday, and more growth is likely through to the end of this week. In addition to the company’s strong financial results and potential for stock growth, there’s a 0.82% dividend yield to add income to any portfolio.

Key Data:

  • 1 Year Price Growth: 94%
  • YTD Price Growth: 67%
  • 3 Month Price Growth: 06%

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The reports, research and newsletter are based on current and historical market data, as well as publicly available financial data.They are intended to be a starting point for investors. They do not provide every material fact about a company or industry, nor are they recommendations to buy or sell. The writers and the company make no warranties or representations as to the accuracy of these reports.   You should NOT rely solely upon the information or opinions read in the content. Rather, you should use the content as a starting point for doing independent research on the independent analysis and trading methods in the content. The content is impersonal and does not provide individualized advice or recommendations for any specific reader or individual portfolio. By accessing this website you have agreed to our disclaimers and privacy policy.

 

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