Costco (COST) Stock: Why It Increased 1.33% Today

By Amit Chowdhry ● Jul 8, 2022
  • The stock price of Costco Wholesale Corporation (NASDAQ: COST) increased by 1.33% today. This is why.

The stock price of Costco Wholesale Corporation (NASDAQ: COST) increased by 1.33% today. Investors responded positively to the company’s total comparable sales of June, the 5 weeks ended July 3, 2022, an increase of 20.4% from $18.92 billion last year.

And for the 44 weeks ended July 3, 2022, the company reported net sales of $188.34 billion, an increase of 16.9% from $161.09 billion during the similar period last year.

The comparable sales were as follows:

– U.S. – 21.5% (5 weeks); 16.6% (44 weeks)

Canada – 14.2% (5 weeks); 15.9% (44 weeks)

Other International – 4.7% (5 weeks); 7.4% (44 weeks)

Total Company – 18.1% (5 weeks); 15.3% (44 weeks)

E-commerce 7% (5 weeks); 10.6% (44 weeks)

The comparable sales excluding the impacts from changes in gasoline prices and foreign exchange were as follows:

– U.S. – 13.2% (5 weeks); 11% (44 weeks)

– Canada – 13.7% (5 weeks); 12.1% (44 weeks)

– Other International – 11.9% (5 weeks); 9.8% (44 weeks)

– Total Company 13% (5 weeks); 11% (44 weeks)

– E-commerce: 8.3% (5 weeks); 10.8% (44 weeks)

This year’s 5-week June retail month had one additional shopping day in the U.S. versus last year, due to the timing of Independence Day. And this benefited Total Company total and comparable sales by about 2%, and U.S. total and comparable sales by approximately 3%.

Disclaimer: This content is intended for informational purposes. Before making any investment, you should do your own analysis.