12.08.2019 23:06:00

Costco Posts Solid Sales in July -- but It May Not Be Good Enough

A slew of major retailers have struggled with sluggish sales this year, but Costco Wholesale (NASDAQ: COST) has continued to post solid comparable-store sales gains month after month. That streak continued in July.That said, there has been a noticeable deceleration in Costco's comp sales growth over the past six months or so. And while most retailers would be delighted to achieve the level of growth the discount warehouse giant has been reporting, their shares don't trade for 34 times earnings, as Costco stock does. With sales growth cooling off, Costco stock looks too pricey to be a prudent investment right now.Costco posted a 5.6% comp sales gain in July. Adjusted for currency fluctuations, changes in gasoline prices, and new revenue recognition rules, comp sales increased 5.1%, right in line with the company's performance during the month of June.Continue reading
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