Costco (NASDAQ:COST) Wholesale Corporation reported muted November sales figures that sent its stock falling just ahead of the crucial holiday season.
The retail giant reported net sales of $19.17 billion for the four weeks ended November 27, 2022.
That represented a 5.7% increase over the $18.13 billion figure reported last year, a much slower rate than the 7.7% increase reported in October 2022 and far less than the 10.1% in September 2022.
READ: Costco Wholesale posts upbeat third quarter earnings and revenue, although gross margins saw a big fall
Its e-commerce sales dropped 10.1% from October levels.
The group is due to report its fiscal Q1 earnings on December 8. Analysts are expecting to see a profit of around $3.11 per share on average and revenue of about $54.3 billion.
Shares of Costco (NASDAQ:COST) were trading 6.2% lower in New York at midday Thursday.
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