Costco Wholesale Corp (COST) topped Wall Street estimates for quarterly results on Thursday, helped by strong demand for its fresh food, candies and fuel offerings despite rising inflation.
Telsey Advisory Group analyst Joseph Feldman said that in the current environment, consumers are looking to save money – including the affluent ones, which Costco caters to. “That bodes well, since they sell a lot of food and consumables and they help people save money.”
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