When shoppers are looking for ways to stretch their budgets, Costco (COST) is proving that value still drives spending. The warehouse retailer reported July net sales of $23.12 billion, up 10.7% from a year earlier, for the four weeks that ended Aug. 2.
Its growth went beyond new warehouse openings and changing fuel prices. Comparable sales rose 8.9% across the company, while U.S. comparable sales climbed 10.3%, showing that shoppers kept returning to Costco’s stores.
