Very few companies have a true moat around there business. In most cases, a rival can find a way to beat its prices, match any services it offers, and compete in unexpected ways. Costco  (COST)  does not have a unique business as Sam's Club and BJ's Wholesale operate under the same model, but it does have a moat. Once members are in, they're very likely to stay members and, if there's some sort of drop in renewals, the chain usually sees that a year out, giving it time to adjust its strategies. It's not ...

Look past the headline figures, because management commentary will be key to Costco's success in the upcoming year.For most investors, earnings season is the pinnacle of each quarter. This is the six-week period where most S&P 500 companies lift their proverbial hoods and give investors an up-close look at their operating performance. There's arguably no better way to gauge the health of American businesses and the stock market than from the operating results of its most-influential businesses.But not every ...