Costco Escapes Retail Gloom With Sales That Beat Estimates
- Excluding fuel, sales gained 6.3%, versus 3.9% projection
- Company ‘can coexist with large hardline competitors’: analyst
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Costco Wholesale Corp. bypassed the funk pervading the retail industry in the wake of Amazon.com Inc.’s deal for Whole Foods Market Inc., as its treasure-hunt shopping experience shows no sign of consumer fatigue.
Costco posted same-store sales for June that far exceeded analysts’ estimates, sending shares up as much as 2.1 percent to $161.35 in New York.