Costco cruises through Black Friday with solid traffic
Joe Raedle

Bank of America said Costco Wholesale Corporation (NASDAQ:COST) had solid customer traffic on Black Friday. Store visits by BofA indicated in-stock levels across categories and strong foot traffic in the apparel, electronics, and grocery departments.
Analyst Robert Ohmes and team continue to view warehouse clubs as better positioned compared to peers this holiday season given their strong value proposition and membership strength. For Costco (COST), BofA thinks a premium valuation is warranted due to the retailer's healthy customer traffic growth and strong membership renewal rates. Even with a gloomy economic forecast for 2023, membership rates are seen staying strong for COST given the expectation for a further rise in the perceived value of shopping at warehouse clubs and COST's leading warehouse club position from a merchandising, store execution, and private label standpoint.
Costco (COST) will report monthly sales late next week in what could be a catalyst for shares.
See the growth metrics on Costco.