Selling cheap gas and groceries hasn’t been enough to keep Costco Wholesale stock in the black in 2022. But next year looks better for the warehouse-store giant, whose loyal customers continue to snap up its bargain-priced goods. Inventors should consider snapping up the shares.
Costco (ticker: COST) stock has fallen 19% this year, to a recent $462, on worries about a buildup in inventories and a pullback in discretionary spending. Costco seemed to confirm those concerns on Nov. 30, when the Issaquah, Wash.–based company reported same-store sales growth of 4.3% for the four weeks ended Nov. 27, down from 6% the month before.