Costco Sales Growth Cools as Consumers Shift Discretionary Spending
Yahoo! Finance
Costco Wholesale Corp. sales growth slowed slightly in the most recent quarter compared with recent years as some shoppers bought fewer big-ticket discretionary items. Online sales fell 3.7% from the prior year, Costco said. The slower growth is both due to the quarterly comparison with massive growth last year and some pullback on spending, said Costco Chief Financial Officer Richard Galanti on a call with analysts Thursday.
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