Why Costco Stock Was Heading Lower Today

Key Points Costco beat estimates on the top and bottom lines. The company said that demand for discretionary items was fading. The valuation remains at a P/E around 50. 10 stocks we like better than Costco Wholesale › Shares of Costco (NASDAQ: COST) were pulling back today after the warehouse retailer delivered solid fourth-quarter results, but they weren't quite strong enough to push the stock up, given its lofty valuation. And management's comments about weakening discretionary spending may hav ...