Heat, Housing Slump Hurt Costco Same Store Sales; Stock Slides 4.2%
ISSAQUAH, Wash. - Soaring temperatures and mortgage rates were the main culprits of membership wholesale club Costco Wholesale Corp.'s disappointing same-store sales performance of 2 percent for August performance, which fell below analysts' expectations and led to its stock seeing its biggest slip in two years, ending the day at $59, 4.2 percent down from Tuesday's closing price.