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00:02Costco Wholesale reported June net sales of $29.24 billion for the five weeks ended July 5th,
00:08up 10.6% year-over-year, according to Benzinga.
00:12U.S. comparable sales rose 10.6%, while Canada comparable sales increased 3.7%.
00:18For the first 44 weeks of the fiscal year, net sales totaled $250.43 billion, up 10.1%.
00:27Costco said gasoline price deflation and foreign exchange pressure weighed on results,
00:32though demand trends remain solid.
00:34Costco's technical indicators suggest the stock remains weak,
00:37but it could rebound if buying interest returns and momentum continues to improve.
00:41The stock is trading below key moving averages, signaling short-term bearish momentum.
00:47RSI was neutral, and MACD suggested some bullish momentum dot shares were up by 0.62%
00:53at $941.60 in Thursday's pre-market trading, according to data from Benzinga Pro.
01:00For all things money, visit Benzinga.com.
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