June 2, 2022

On Thursday, markets were strong as the S&P 500 rose 1.8% and Toronto rose 1.5%.

lululemon was up 4.35%

Shopify was up 9.6%

Starbucks was up 4.1%

Costco was up 6.7%. And that was before it reported after hours that U.S. same-store sales were up 10.7% and in Canada same-store sales were up 19.5% after normalizing for higher gasoline prices and for currency fluctuations.

That is an incredible gain Canada. They don’t reveal how much was due to price increases and how much due to volume. Certainly it appears that a good chunk was due to higher volume. Add that raises the question as to who Costco is taking market share away from.

 

 

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