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Costco sees a slowdown in U.S. sales growth

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Yahoo Finance's Brian Sozzi breaks down Costco sales in July versus June.

Video Transcript

BRIAN SOZZI: All right, we're keeping a close eye on shares of Costco. The warehouse retailer posted a 7% same-store sales increase in July, excluding gas sales. Led by an 11.5% increase in Canada. But there is one red flag in the report. And that is US sales growth slowing to 5.8% from 13.2% in June.

Said Jefferies analyst Cory Harlow on Costco, while all merchandise categories slow versus June, this makes sense to us given recent commentary by other retailers calling out softness in July. And of course, some of those retailers include Walmart, Target, and others.