Costco’s May Sales Were Strong but the Stock Is Drifting Lower

Costco stock is dipping despite another strong report on monthly sales.

Late Thursday, Costco Wholesale (ticker: COST) said comparable sales in May were up 15.5%, or 11.8% excluding the impact of gasoline and foreign exchange, easily ahead of the consensus of just over 7%. Core sales were up 10.7% in the U.S., while e-commerce sales climbed 7.7%.  

Still,…

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