Costco Wholesale Corp. (NASDAQ: COST) reported net sales of $22.75 billion for the month of September, up by 6% year-over-year. Comparable sales increased by 4.5% in the month of September. When changes in gasoline prices and currency exchange fluctuations are excluded, the warehouse retailer’s comparable sales rose by 3.7% in the month.
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According to Barron’s report, citing Costco’s Josh Dahmen, AVP of financial planning and investor relations, higher gasoline prices drove the retailer’s same-store sales by about 0.5% last month. The U.S. continued to be Costco’s weakest market with same-store sales up by 3.2% as compared to Canada’s 6.7% increase and international markets up 10%.
Is COST Stock a Buy or Sell?
Analysts remain bullish about COST stock with a Strong Buy consensus rating based on 19 Buys and six Holds.