Despite soaring gas prices, high rates, and weak consumer sentiment, Americans continue to spend. While recent retail earnings have been mixed, reports from major banks have highlighted resilient consumer strength across both high- and low-income cohorts. Yes, consumers feel pinched by high prices (and slowing wage growth).
Still, spending continues, and cost-conscious consumers are the perfect clientele for warehouse-club retailers like Costco Wholesale Corp. (NASDAQ: COST). COST stock hasn’t hit a new all-time high in nearly five months, but the fundamentals are accelerating just as the stock tests the 200-day moving average. Is Costco’s lackluster year finally about to pick up?
