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Costco stock falls in premarket as March same-store sales fall short

Clyde Edgerton by Clyde Edgerton
April 6, 2023
in Markets
Costco stock falls in premarket as March same-store sales fall short
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Costco Wholesale Corp. stock COST is down 2.5% in premarket trades after the retailing giant said its U.S. core March comparable stores sales grew by 2.6%, excluding impacts from changes in gasoline prices and foreign exchange. Analysts at Stifel said the core figure missed the Wall Street consensus estimate of 3.9%. Costco’s total same-store sales fell 1.1%, the first monthly same-store sales drop since April 2020. Stifel reiterated a buy rating on the stock but said the miss amounts to a “watchpoint for most retailers as Costco likely continues to outperform many peers.” Costco’s weakness in sales of non-foods “is…



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