Why Costco Stock Fell Today
Yahoo Finance ·
Shares of Costco Wholesale ( COST 4.23% ) declined on Thursday following the release of the discount chain's June sales metrics. Costco's net sales climbed 10.6% year over year to $29.24 billion for the five weeks ended July 5. The company's comparable sales , which include revenue from locations open for more than a year, increased 8.8%. Those are certainly not the results of a business in distress. However, Costco's shares trade at premium earnings and cash flow multiples to many other retailers, so investors' expectations were high.
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