Why Costco Stock Slipped Today
Costco Wholesale (NASDAQ: COST) released its latest set of monthly operating and financial figures Thursday, which was met by mild concern from investors. Adding to the downbeat mood, an analyst reduced his price target on the famous retailer's stock. This drove the shares down by more than 1% on the day, essentially matching the decline of the S&P 500 (SNPINDEX: ^GSPC).
Just after market close Wednesday, Costco took the lid off its October metrics. Net sales for the month came in at $21.75 billion, a tally that was nearly 9% higher on a year-over-year basis.
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Source Fool.com
