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Why Costco's (COST) Stock Rallied Post June Sales Results
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Costco Wholesale Corporation (COST - Free Report) reported flat comparable-store sales (comps) for the month of June (the five weeks ended Jul 3, 2016). The figure came in ahead of analysts’ expectations. Shares of this Zacks Rank #3 (Hold) company rose roughly 5% yesterday, following the announcement of June sales results on Jul 6. This was the third straight month in which the company reported flat comps. It last witnessed a 1% increase in comps in March.
Comps for June remained flat at the company’s U.S. locations but improved 1% across the Canadian locations, offset by a decline of 3% at Other International locations.
However, excluding the adverse impact of foreign currency fluctuations and deflation in gasoline prices, Costco’s comps for the month under review rose 3%. The company recorded comparable sales growth of 2%, 7% and 2% across its U.S., Canadian and Other International outlets, respectively.
Costco reported flat comps for the 44-week period ended Jul 3, 2016, incorporating a 2% increase across its U.S. locations, offset by a 4% decline at both its Canadian and Other International locations. Excluding the effect of gasoline prices and foreign currency fluctuations, comps for the period jumped 5%, reflecting an improvement of 4%, 9% and 4% at the U.S., Canadian and Other International locations, respectively.
On the sales front, the company reported a 3% jump in net sales to $11.33 billion for the five-week period ended Jul 3, 2016. For the 44-week period, net sales came in at $98.51 billion, reflecting a 2% rise from $96.33 billion generated in the year-ago period.
Costco, which competes with Wal-Mart Stores Inc. (WMT - Free Report) , currently operates 708 warehouses, which include 496 in the U.S. and Puerto Rico, 90 in Canada, 36 in Mexico, 27 in the U.K., 25 in Japan, 12 in Korea, 12 in Taiwan, 8 in Australia, and 2 in Spain.
Stocks to Consider
Some better-ranked retail stocks that appear promising include Burlington Stores, Inc. (BURL - Free Report) and Dollar General Corporation (DG - Free Report) , both carrying a Zacks Rank #2 (Buy).
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Why Costco's (COST) Stock Rallied Post June Sales Results
Costco Wholesale Corporation (COST - Free Report) reported flat comparable-store sales (comps) for the month of June (the five weeks ended Jul 3, 2016). The figure came in ahead of analysts’ expectations. Shares of this Zacks Rank #3 (Hold) company rose roughly 5% yesterday, following the announcement of June sales results on Jul 6. This was the third straight month in which the company reported flat comps. It last witnessed a 1% increase in comps in March.
Comps for June remained flat at the company’s U.S. locations but improved 1% across the Canadian locations, offset by a decline of 3% at Other International locations.
However, excluding the adverse impact of foreign currency fluctuations and deflation in gasoline prices, Costco’s comps for the month under review rose 3%. The company recorded comparable sales growth of 2%, 7% and 2% across its U.S., Canadian and Other International outlets, respectively.
Costco reported flat comps for the 44-week period ended Jul 3, 2016, incorporating a 2% increase across its U.S. locations, offset by a 4% decline at both its Canadian and Other International locations. Excluding the effect of gasoline prices and foreign currency fluctuations, comps for the period jumped 5%, reflecting an improvement of 4%, 9% and 4% at the U.S., Canadian and Other International locations, respectively.
On the sales front, the company reported a 3% jump in net sales to $11.33 billion for the five-week period ended Jul 3, 2016. For the 44-week period, net sales came in at $98.51 billion, reflecting a 2% rise from $96.33 billion generated in the year-ago period.
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Costco, which competes with Wal-Mart Stores Inc. (WMT - Free Report) , currently operates 708 warehouses, which include 496 in the U.S. and Puerto Rico, 90 in Canada, 36 in Mexico, 27 in the U.K., 25 in Japan, 12 in Korea, 12 in Taiwan, 8 in Australia, and 2 in Spain.
Stocks to Consider
Some better-ranked retail stocks that appear promising include Burlington Stores, Inc. (BURL - Free Report) and Dollar General Corporation (DG - Free Report) , both carrying a Zacks Rank #2 (Buy).
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report >>