Investors looking for a retail recovery won’t find it at Costco (COST). The big box discount store operator said that sales in June fell 6% in stores that had been open at least a year. That is particularly bad news because Costco is known for low prices and stressed consumers should be shopping at its outlets, if they are shopping at all.
The Costco sales numbers were in line with Wall St. expectations, but that is cold comfort.
Douglas A. McIntyre
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