Inflation has weighed on consumer discretionary spending in recent quarters. Rising prices may create an opportunity for discount retailers to gain market share this holiday shopping season, according to Bank of America analyst Robert Ohmes.
Costco Wholesale Corporation (NASDAQ: COST) Thursday reported revenues of $72.09 billion, topping Street expectations. However, the company’s gross margins contracted by around 80 basis points to 10.18%.
BofA Securities on Costco Wholesale