Bearish
Costco's June sales growth slows to 7%, shares drop 4%
Costco reported a 7% year-over-year increase in June sales, down from 8% in May, leading to a 4% decline in share price. Excluding fuel and currency effects, U.S. comparable-store sales rose 7.6%, indicating a slowdown in consumer demand.
Key points
- June sales growth slows to 7%, down from 8% in May.
- Excluding fuel and currency effects, U.S. comparable-store sales rose 7.6%.
- E-commerce sales continued to outpace in-store growth, rising 11.5% for the month.
Sources
AI-generated from public news sources. Not financial advice.
