What Costco's Weak Results Could Mean for the Retail Sector
When Costco Wholesale (NASDAQ: COST) reported fiscal third-quarter 2023 results, there were a couple of key weaknesses that Wall Street highlighted, notably a slowdown in same-store sales along with revenue that was below expectations.
While these are important trends to watch, from a big-picture perspective, the more important news for the retail sector as a whole is what Costco's customers were buying -- and what they weren't buying. Let's dive in.
In fiscal Q3 2023, Costco reported sales of $53.6 billion, up from $52.6 billion in the year-ago period, which was shy of analyst expectations. So it was something of a mixed top-line result.
Source Fool.com
