Costco (COST, $481.00) shares jump, on solid December sales
Costco Wholesale shares climbed higher on Friday, after the retail giant posted December sales figures that suggest solid spending during holiday period.
Costco’s sales for the five weeks ending on January 5 rose +7% from a year ago to $23.8 billion, well above the Street forecasts of +3.5% growth. The figure is also a marked acceleration over the 5.3% growth of November.
Comparable U.S. sales grew +3.6%, the sharpest increase since June.
Last month, Costco reported diluted earnings for the three months ended Nov. 20, at $3.10 per share, 2 cents short of the Street consensus forecast. Group sales were up +8.1% to $54.44 billion in that quarter.
COST in +1.67% Uptrend, advancing for three consecutive days on July 23, 2024
Moving higher for three straight days is viewed as a bullish sign. Keep an eye on this stock for future growth. Considering data from situations where COST advanced for three days, in of 382 cases, the price rose further within the following month. The odds of a continued upward trend are .
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Notable companies
The most notable companies in this group are Walmart (NYSE:WMT), Costco Wholesale Corp (NASDAQ:COST), Target Corp (NYSE:TGT), Dollar General Corp (NYSE:DG), Dollar Tree (NASDAQ:DLTR), Big Lots (NYSE:BIG).
Industry description
Companies in the discount stores industry specialize in offering substantial discounts on a vast array of retail products. Some companies in this industry also operate general merchandise warehouse clubs. Products sold at discount stores are typically similar to those of any department store, but the pricing of the goods is generally much lower (and hence the name “discount”). Think Dollar General Corporation, Dollar Tree, Inc. and Five Below, Inc. Many discount stores target low-income households and/or price-sensitive consumers as their potential market. Discount stores’ profitability could hinge on factors like competitive pricing, sufficient locations, healthy revenue per square foot, and effective advertisement. These store operators could have an edge over other retailers during financial crises or recessions, when many consumers could be looking for less expensive alternatives.
Market Cap
The average market capitalization across the Discount Stores Industry is 73.17B. The market cap for tickers in the group ranges from 1.78K to 563.21B. WMT holds the highest valuation in this group at 563.21B. The lowest valued company is TUEMQ at 1.78K.
High and low price notable news
The average weekly price growth across all stocks in the Discount Stores Industry was -2%. For the same Industry, the average monthly price growth was -0%, and the average quarterly price growth was 0%. DLMAF experienced the highest price growth at 2%, while OLLI experienced the biggest fall at -5%.
Volume
The average weekly volume growth across all stocks in the Discount Stores Industry was 21%. For the same stocks of the Industry, the average monthly volume growth was -3% and the average quarterly volume growth was 20%
Fundamental Analysis Ratings
The average fundamental analysis ratings, where 1 is best and 100 is worst, are as follows
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