Costco Reports September Sales Results: What To Know
Portfolio Pulse from Erica Kollmann
Costco Wholesale Corporation reported a significant increase in September sales, with net sales reaching $24.62 billion, an 8.9% rise from the previous year. The company's comparable sales also saw notable growth, particularly in the U.S. and e-commerce. The sales figures were positively impacted by unusual consumer activity due to Hurricane Helene and port strikes. Costco shares are trading above their 50-day moving average and are nearing a 52-week high.
October 09, 2024 | 9:00 pm
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Costco reported an 8.9% increase in September sales, with strong growth in the U.S. and e-commerce. The sales boost was partly due to Hurricane Helene and port strikes. Shares are trading above the 50-day moving average and nearing a 52-week high.
The reported sales growth of 8.9% is a positive indicator for Costco, suggesting strong consumer demand and effective sales strategies. The additional boost from external factors like Hurricane Helene and port strikes further enhances the sales figures. The stock's movement above the 50-day moving average and its proximity to a 52-week high indicate positive market sentiment, likely leading to a short-term price increase.
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