Costco Fights Off Amazon and Walmart and Gets Rewarded For It
This article is for subscribers only.
Costco Wholesale Corp. rose to a record high Friday after the membership warehouse retailer’s August same-store sales topped analysts’ estimates, marking an “impressive” end to its fiscal year, according to analysts at both Telsey Advisory Group and Cowen.
Shares rose as much as 2.6% and are now up 49% so far this year, more than double the percentage gain of its closest pure-play rival, BJ’s Wholesale Club Holdings Inc.