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Bloomberg
Costco Wholesale Corp is heading for its biggest gain since March 2020 after improving December sales soothed investor concerns about a slowdown in November 2022.
Excluding the impact of changes in gasoline prices, Costco’s US comparable sales climbed 6.4% last month, topping the 5% average of analyst estimates compiled by Consensus Metrix.
In November, the closely followed sales gauge only rose 4.6%, the smallest gain since April 2020.
The warehouse club is benefiting from resilient demand as customers spend heavily on food while also snapping up items such as sporting goods and tires.