Costco’s recent stock performance has analysts buzzing, as shares approach the $1,000 mark. With discussions of a potential stock split, the retail giant aims to enhance affordability and accessibility for investors, cementing its leadership in the market.
In a frenzy of demand, Costco experiences a gold rush as 77% of stores sell out of bullion. Shoppers clamor for precious metals amid rising interest.
Costco Wholesale Corp. (COST) shares plummeted over 12% on Thursday, marking their largest one-day decline since May 2020, after the warehouse club operator reported a quarterly revenue miss. The company’s fiscal second-quarter net sales rose to $54.44 billion from $51.92 billion a year earlier, but fell short of analysts’ estimates of $55.21 billion. Comparable sales increased by 7.1%, slightly below expectations of a 7.4% gain. Despite a strong showing in its grocery and pharmacy divisions, Costco’s apparel and home furnishings departments faced headwinds, contributing to the revenue shortfall.