Costco (COST) hit new All-Time highs after it reported solid profit growth of 21% last qtr, as sales increased a solid 12% overall.
When news hit that Amazon was trying to buy Whole Foods, investors sold off grocery stores, including Costco (COST). But since then, Costco hasn’t missed a beat.
Investors slammed shares of Costco (COST) back in June when you-know-who acquired Whole Foods. Is the competition hurting Costco? Hell no.
There’s a lot of hoopla over Amazon taking business from Costco (COST, but the latter still grew profits 18% last qtr — Nice! What has been hurt is COST’s multiple.
Shares of Costco (COST) are down on news Amazon is looking to buy Whole Foods. Meanwhile, Costco’s profits rose a robust 12% last qtr. Time to Buy?