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Costco's Fiscal Q1 Sales Grew, but Not Enough to Please Investors

Costco's Fiscal Q1 Sales Grew, but Not Enough to Please Investors

Traders are bidding down Costco Wholesale's (NASDAQ: COST) share prices this morning, a trend that began yesterday before market close, despite positive sales figures in the company's fiscal first-quarter 2021 earnings report. The retailer and warehouse club operator's comparable sales and other metrics still rose year over year, but didn't grow as strongly as in the previous quarter, prompting the current minor stock market retreat. Wall Street consensus expected comparable sales or comps to grow by 13.8% for the month, whereas actual comp growth was slightly lower at 13.4%.