Business
Costco’s big earnings beat points to further upside
This article was originally published on Fool.com. All figures quoted in US dollars unless otherwise stated.
Costco Wholesale (NASDAQ: COST) has been one of the biggest retail winners during the COVID-19 pandemic. Its growth accelerated last quarter, as comparable sales skyrocketed 17.1%, excluding the impacts of currency fluctuations and gasoline price deflation.
For a second consecutive quarter, this double-digit sales growth drove a huge jump in Costco’s earnings. The company’s accelerating earnings growth suggests that Costco stock still has plenty of upside for long-term investors, despite carrying a lofty valuation after a 27% rally year to date.
Costco Wholesale year-to-date stock performance, data by YCharts.
Margin…
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