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Why Is Costco (COST) Stock in the Spotlight Today?

  • Costco (COST) stock is rising on Thursday after reporting September sales data.
  • That saw its revenue increase 10.1% year-over-year to $21.46 billion.
  • This is despite inflation affecting shopping habits.
A Costco Wholesale (COST Stock) warehouse in Auburn Hills, Michigan.

Source: ilzesgimene / Shutterstock.com

Costco (NASDAQ:COST) stock is catching the attention of investors on Thursday after reporting sales data for the month of September.

The big number to note here is the retailer’s revenue of $21.46 billion during the period. That’s a 10.1% jump from the $19.5 billion that was reported in September 2021. Also, comparable sales saw an 8.5% increase when excluding changes in gas prices and foreign exchange.

Breaking down that comparable sales data further, Costco saw an increase of 11.2% in the U.S. For Canada, that number comes in at 5.7%. When talking about other international comparable sales, the company saw a drop of 1.9% from September 2021.

Another interesting bit of data from the report includes September e-commerce sales increasing 0.7% year-over-year. While not as strong of an increase as the other sales, it’s still an improvement worth keeping in mind.

COST Is Growing Revenue Despite Macroeconomic Factors

A retailer reporting strong year-over-year revenue growth during a recession and rising inflation is something for investors to celebrate. It’s a sign that customers aren’t shying away from shopping as much as experts might have feared.

While the positive sales data for September is appreciated by shareholders, it’s not resulted in strong trading volume for COST stock. Instead, only around 487,000 shares of the retail company’s stock have changed hands. That’s quite a ways off from its daily average trading volume of around 2.1 million shares.

COST stock is up 1.5% as of Thursday morning but is still down 13.9% since the start of the year.

Investors looking for more recent stock market news will want to keep reading!

We’ve got all the hottest stock news for traders to dive into on Thursday! Among that is a new way to short Jim Cramer, the latest on Peloton (NASDAQ:PTON) stock and this morning’s biggest pre-market stock movers. You can find all of that at the following links!

More Thursday Stock Market News

On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.


Article printed from InvestorPlace Media, https://investorplace.com/2022/10/why-is-costco-cost-stock-in-the-spotlight-today/.

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