The Surprising Business That's Boosting Costco's Growth
Investors are very forgiving when it comes to the stock of Costco Wholesale (NASDAQ: COST). Although it dipped last week after reporting a mere 1% year-over-year increase in revenue, it's still up 34% year to date, strongly outpacing the S&P 500.
Costco has built up its reputation over many decades to become so deserving of that ironclad investor confidence. It's reliable for steady growth, and the market isn't willing to send it down too much based on one quarter. Investors see the long opportunity ahead and expect sales to pick up. And much of that is already coming from a surprising source.
Costco members love shopping through the company's huge warehouses. But in today's day and age, every large retailer has some sort of digital presence, Costco included.
Source Fool.com