Membership warehouse operator Costco Wholesale Corporation ( COST
Same-store sales are a key metric used to measure a retailer's health, since they reflect the performance of stores open at least one year. Costco said same-store sales rose 2% in the U.S. and 14% internationally.
Excluding gasoline, same-store sales were up 3% (1% in U.S., 8% International). Total net sales rose 7% from last year, to $7.33 billion.
Costco shares were mostly flat in premarket trading Thursday.
The Bottom Line
We had removed shares of COST from our "recommended" list Sept.22, 2008,when the stock traded at $66.09. The company has a dividend yield of 1.51%, based on last night's closing stock price of $54.29. The stock has technical support in the $50-$52 price area. If the shares can firm up, we see overhead resistance around the $58-$60 price levels. We would remain on the sidelines for now.
Costco Wholesale Corporation ( COST ) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.4 out of 5 stars.
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