{"id":32866,"date":"2023-07-07T22:11:51","date_gmt":"2023-07-08T02:11:51","guid":{"rendered":"https:\/\/ifintechworld.com\/uncategorized\/costco-shares-dip-after-reporting-same-store-sales-in-june-analysts-remain-positive\/"},"modified":"2023-07-07T22:11:53","modified_gmt":"2023-07-08T02:11:53","slug":"costco-shares-dip-after-reporting-same-store-sales-in-june-analysts-remain-positive","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=32866","title":{"rendered":"Costco shares dip after reporting same-store sales in June; analysts remain positive"},"content":{"rendered":"
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\u00a9 Reuters. <\/span>
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Investing.com\u00a0— Costco Wholesale Corp (NASDAQ:) shares were dipping after the retailer reported sales for June.<\/p>\n

Warehouse retailer Costco Wholesale reported June net sales of $22.86 billion, an increase of 0.4% from the same time last year.<\/p>\n

The company said that for the 44 weeks ended July 2, it reported net sales of $196.93 billion, an increase of 4.6% from one year ago.<\/p>\n

Shares fell 0.8% in\u00a0pre-open\u00a0Friday trading.<\/p>\n

June comparable sales, excluding the impacts from changes in gasoline prices and foreign exchange, rose 3.0%. It also said U.S. comparable sales growth excluding those impacts was 2.0%, and e-commerce was down 0.4%.<\/p>\n

Stifel\u00a0analysts reiterated a Buy rating and a $545 per share price target on COST stock as June results are “largely consistent with recent trends showing Costco continues to outperform most peers.”<\/p>\n

Telsey Advisory Group analysts said the results were better than expected, driven by the 4.2% increase in traffic.<\/p>\n

“Costco’s better than anticipated June comp reflects good execution and its value appeal to a cost-conscious consumer. We expect Costco to remain a share gainer, with its value-focused merchandising and high member loyalty (~125MM members). In FY23 and FY24, Costco should continue to generate HSD-LDD EPS growth, driven by a LSD-MSD comp, MSD-HSD membership fee income growth, leverage of customer data, and effective management of merchandising and costs,” they said.<\/p>\n

COST shares are up more than 17% so far this year.<\/p>\n

Additional reporting by\u00a0Senad Karaahmetovic <\/em><\/p>\n<\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

\u00a9 Reuters. Investing.com\u00a0— Costco Wholesale Corp (NASDAQ:) shares were dipping after the retailer reported sales for June. Warehouse retailer Costco Wholesale reported June net sales of $22.86 billion, an increase of 0.4% from the same time last year. The company said that for the 44 weeks ended July 2, it reported net sales of $196.93 […]<\/p>\n","protected":false},"author":1,"featured_media":32867,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"video","meta":{"footnotes":""},"categories":[1],"tags":[83],"class_list":["post-32866","post","type-post","status-publish","format-video","has-post-thumbnail","hentry","category-uncategorized","tag-featured","post_format-post-format-video"],"yoast_head":"\nCostco shares dip after reporting same-store sales in June; analysts remain positive | iFintechWorld<\/title>\n<meta name=\"description\" content=\"\u00a9 Reuters. 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