Shares of Costco (NASDAQ:COST) saw little change in after-hours trading after the discount retailer reported its monthly sales figures. In May, the firm saw sales increase by 8.1% year-over-year to $19.64 billion. When looking at comparable sales, this figure showed a 6.4% increase. Costco’s biggest growth driver in terms of comparable sales was its E-commerce segment, which jumped 15.3% during this time frame. This was followed by 9.3%, 6.7%, and 5.8% increases in the International, Canada, and U.S. segments, respectively.
Costco’s year-to-date revenue was also positive, coming in 6.9% higher at $186.07 billion. Again, at the comparable level, E-commerce led the way with a 14.8% increase, followed by 9.1%, 7.6%, and 4.3% increases in the International, Canada, and U.S. segments, respectively.
These results highlight Costco’s resilience in the face of sticky inflation, as shoppers continue to search for deals in order to boost their purchasing power.
Is COST Stock a Buy or Sell?
Turning to Wall Street, analysts have a Strong Buy consensus rating on COST stock based on 20 Buys, six Holds, and zero Sells assigned in the past three months, as indicated by the graphic below. After a 66% rally in its share price over the past year, the average COST price target of $837.92 per share implies that shares are fairly valued.
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