Is Costco Still a Buy After Rising 16% This Year?
Deemed an essential business, Costco Wholesale (NASDAQ: COST) has been able to keep its doors open and operate during the coronavirus pandemic. The business has performed well over the past few months, as shoppers flocked to its warehouses in order to stock up on necessary products. The value proposition of a Costco membership has seemingly never been stronger, and the stock has followed suit, rising 16% year to date.
Due to what we've experienced this year, my investment philosophy has shifted toward focusing only on companies that are recession-proof. Costco's revenue in July jumped 14.1% from the prior-year period, and e-commerce sales skyrocketed 75.3%. The company posted similar metrics in May and June, showcasing just how resilient the business is.
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Source Fool.com
