Costco Members Still Looking for Deals
Members of bulk retailer Costco (NASDAQ:COST) bought 5.5% more extra-large items last quarter, enriching the company by $17.3 billion. Although this number was slightly below Wall Street estimates, the EPS of 60 cents met views.
AP reports that “Chief Financial Officer Richard Galanti said shoppers are slowly starting to buy more nonfood items, such as clothing and housewares, but continue to spend modestly as the holidays approach.” Sounds like people actually have a budget this holiday season.
Disclosure: No positions in the stocks mentioned.
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