Costco January comps remained firm, says Baird

Baird analyst Peter Benedict keeps an Outperform rating and a $575 price target on Costco after its January comps data. Despite softer non-foods sales, overall comps "held firm" at 7.4% vs. 7.3% increase in December, the analyst tells investors in a research note. Costco remains uniquely positioned to weather the increasingly choppy consumer spending backdrop given its entrenched value position and loyal membership base, the firm adds.