TradingKey – As of July 10 ET, Costco ( COST) last stood at $912.97, down 4.21% on July 9 and up slightly by 0.22% in premarket trading. The stock price fell as the newly released June sales data showed a slowdown in growth.
The primary driver behind the decline in Costco’s share price is that its newly released June sales growth slowed compared to May.
According to the latest sales data, Costco’s net sales for the retail month of June were $29.24 billion, up 10.6% year-on-year; cumulative net sales for the first 44 weeks were $250.43 billion, up 10.1% year-on-year. Looking at absolute growth alone, June sales data remained strong. Compared with May, when net sales grew 14.5% year-on-year and total comparable sales rose 12.5%, June’s…
