Costco revenue beats estimates as cash-strapped consumers look for deals on groceries, discretionary items

Costco Wholesale beat third-quarter revenue expectations on Thursday, as cash-strapped consumers flocked to its warehouses to grab low-priced groceries and discretionary items. The membership-only retailer saw resilient demand for its groceries and bakery items as consumers grappling with still-high cost of living preferred cooking more meals at home.With consumers trading down to shop for low-priced goods across product categories, the company also saw steady demand for its low-priced discretionary items. ...