Last year was a difficult one for stock market investors, to say the least. Not only did the riskiest and most speculative companies see their share prices plummet, but even the most dominant, successful, and competitively advantaged enterprises experienced falling stock prices. Tightening monetary policy and a general risk aversion by investors negatively affected businesses of all shapes and sizes.
Even Costco Wholesale (NASDAQ: COST) wasn't immune from the despair. This top retail stock ended 2022 down 20%. Does that mean it's a smart buy right now ? Let's take a closer look.
As consumers flocked to its popular warehouses during the depths of the pandemic, Costco flourished. Sales jumped 17.5% in fiscal 2021 and 15.8% in fiscal 2022 (ended Aug. 28), exceeding historical averages. In fact, year-over-year revenue growth was above 12% in nine straight quarters from the fourth quarter of 2020 through Q4 2022.
For further details see:
Down 20% In 2022, Is Costco Stock a Buy Right Now?