Costco(US:COST) Investor Placeยท2024-08-15 10:29Economic Overview - The U.S. Commerce Department reported that retail sales in June remained unchanged, alleviating recession concerns and indicating a resilient consumer base [1] - Retail sales in May were revised higher, supporting expectations that the Federal Reserve may reduce interest rates in September due to cooling inflation [1][2] Retail Sales Performance - Retail sales in June showed a 2.3% year-on-year increase, following a revised 0.3% increase in May, which surpassed economists' expectations of a 0.3% drop [2] Costco (COST) - Costco announced an increase in annual membership fees for both Gold Star and Business memberships, marking the first increase since 2017, with standard membership rising from $60 to $65 and Executive Membership from $120 to $130 [3][4] - The fee adjustment is set to take effect on September 1 and will impact approximately 52 million members, with Executive members receiving an enhanced maximum annual reward [3][4] Target (TGT) - Target's stock rating was upgraded to Buy by Citi, with a new price target of $180, based on expectations of improved EBIT margins in fiscal year 2024 [5][6] - Target is believed to be on firmer ground after inconsistent performance, with effective inventory management and favorable sales comparisons anticipated starting in Q2 2024 [6] Dick's Sporting Goods (DKS) - Dick's Sporting Goods reported a 5.3% growth in comparable sales for its fiscal first quarter, exceeding the anticipated 2.4% growth, with revenue rising to $3.02 billion, a 6.2% increase from the previous year [7][8] - The company revised its full-year earnings per share guidance to a range of $13.35 to $13.75, exceeding analysts' expectations, and expects comparable sales to increase by 2% to 3% [8][9]