Costco stock rises as holiday sales gain even as online sales recede
By Wallace Witkowski
Costco Wholesale Corp. shares ticked higher in the extended session Thursday after the warehouse club reported a rise in holiday sales from a year ago, even as online sales pulled back.
Costco (COST) said December sales rose 7% to $23.8 billion, up from $22.24 billion a year ago.
For the 18 weeks ending Jan. 1, sales rose 7.6% to $81.16 billion, up from $76.34 billion in the year-ago period.
While same-store sales grew for each period, e-commerce sales declined. Total company same-store sales rose 5.5% for the month and 6.1% for the 18 weeks ending Jan. 1., while e-commerce sales declined 6.4% and 4.8%, respectively.
Costco shares rose more than 2% after hours, following a 1.4% decline to close the regular session at $450.19.
(END) Dow Jones Newswires
January 06, 2023 08:26 ET (13:26 GMT)
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