Why Costco Stock Dropped Today
Costco Wholesale (NASDAQ: COST) stock stumbled on Thursday, falling 2.6% through noon ET on some news from grocery rival The Kroger Co. (NYSE: KR).
In an interview with Bloomberg published today, new Kroger CEO Greg Foran announced plans to implement "big price cuts" to better compete with rivals, including Costco (but also (NASDAQ: WMT), Amazon.com (NASDAQ: AMZN), Trader Joe's, and Aldi) on price.
Image source: Costco.
Source Fool.com
Kroger Co. Stock
€50.08
-0.260%
The stock is an absolute favorite of our community with 28 Buy predictions and no Sell predictions.
As a result the target price of 67 € shows a positive potential of 33.79% compared to the current price of 50.08 € for Kroger Co..
