Costco Updates: Black Friday and Nov. Sales Data Lift Stock Outlook

COST: Costco logo

Costco’s (NASDAQ:COST) stock price has shown strong a near 10% move higher in the last week on is up roughly 20% year to date. The company recently reported an impressive sales growth of 11% for the month of November over the same period last year. ((Costco Wholesale Corporation Reports November Sales Results, Company Website)) Other retailers including Target (NYSE:TGT), Macy’s (NYSE:M) and Limited Brands (NYSE:LTD) also reported impressive sales for the month of November.

We believe that Black Friday sales and the Nov. sales data were major contributors for this increase. The overall retail sales on Black Friday rose 7% to $11.4 billion, the largest amount ever spent, according to ShopperTrak, which gathers stores’ data. [1] Higher customer traffic and strong domestic and international sales helped Costco to post better-than-expected same store sales in November surpassing 6.5% as predicted by the analysts polled by Thomson Reuters.

Costco plans to announced Q1 2012 results on December 8, 2011. This would provide a little more color on how well the company has fared in the last quarter.

Relevant Articles
  1. What To Expect From Costco’s Stock Post Q4 Results?
  2. Costco’s Stock Up 23% So Far, What’s Next?
  3. What To Watch For In Costco’s Stock Post Q3?
  4. What’s Next for Costco Stock?
  5. Company Of The Day: Costco
  6. Company Of The Day: Costco

See our complete analysis for COST stock here

Understand How a Company’s Products Impact its Stock Price at Trefis

  1. Stage Stores Nov. metric up thanks to Black Friday, Bloomber BusinessWeek []