Costco's Digital Sales Jumped 21% and Gas Volumes Hit a Record. So Why Did COST Stock Drop 5%?
Hereʻs what drove the retail giant's stock sell-off.
Costco's Digital Sales Jumped 21% and Gas Volumes Hit a Record. So Why Did COST Stock Drop 5%?
Overview
Costco Wholesale (NASDAQ: COST) investors may be scratching their heads a bit over recent stock price movements following seemingly strong sales and earnings reports.
On June 3, the big-box retailer posted a huge May sales increase, up 14% from last May to $24 billion. Net sales for the first 39 weeks of the fiscal year are up 10% from the same period last year. Comparable store sales rose 12.5% in May and have jumped 8% through the first 39 weeks.
Details
That was boosted by strength in two areas, including digital or online sales, which rose an impressive 21% year over year in May and 21% through the first 39 weeks.
Source
Originally published at www.fool.com.
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