Costco (COST) reported total comparable sales for May that easily topped the average analyst estimate.
Telsey Advisory Group analyst Joseph Feldman is “impressed” by the May sales report. “We believe Costco is executing well in a tough operating environment. The company should remain a share gainer, with its solid sales and high membership renewal rates (~116.6MM members). In FY23, Costco should continue to generate double-digit EPS growth, driven by an MSD comp, HSD membership fee income growth, healthy digital growth, and effective management of costs,” Feldman said in a client note.
To view the full article, please click on the following link:Visit Content