- Costco Wholesale Corp (COST.O) missed second-quarter revenue estimates on Thursday.
- Consumers turned frugal on discretionary spending amid persistently high inflation.
- Big-box retailers seeing slowdown in demand for discretionary items such as toys, electronics and home goods.
- Americans shifting shopping patterns and seeking out more bargains and discounts.
Costco misses quarterly revenue estimates as demand slows for discretionary goods
Costco Wholesale Corp missed second-quarter revenue estimates on Thursday, as consumers turned frugal on discretionary spending amid persistently high inflation, sending its shares down about 3% in after-hours trading.
/cloudfront-us-east-2.images.arcpublishing.com/reuters/ABUP5AF4QZOUJH6KTHGRNMM6QI.jpg)
/cloudfront-us-east-2.images.arcpublishing.com/reuters/SRKVFP4ESBOXJD2ZNXEYXOAUW4.jpg)
/cloudfront-us-east-2.images.arcpublishing.com/reuters/SXGU445HV5OMVLPS32ZPD4A4GM.jpg)
/cloudfront-us-east-2.images.arcpublishing.com/reuters/RCWZE2OK3BNCJNRVFOS74NYF7M.jpg)
/cloudfront-us-east-2.images.arcpublishing.com/reuters/6W5WJY7T4NLKVFJO5JX37LPYS4.jpg)
/cloudfront-us-east-2.images.arcpublishing.com/reuters/BYL7ESQPMFMSNNVJSVCYKYTPH4.jpg)
/cloudfront-us-east-2.images.arcpublishing.com/reuters/OGBROYPEZVMVNLCKMBDIE2XJCE.jpg)
/cloudfront-us-east-2.images.arcpublishing.com/reuters/JG3AL7UAGVPBJHJUNQS4YZL4SE.jpg)
/cloudfront-us-east-2.images.arcpublishing.com/reuters/ABUP5AF4QZOUJH6KTHGRNMM6QI.jpg&description=Costco%20misses%20quarterly%20revenue%20estimates%20as%20demand%20slows%20for%20discretionary%20goods){kind=link}