What happened Costco Wholesale (NASDAQ: COST) investors were in the red on Friday. The retailer's stock fell 2% by 3 p.m. ET compared with a 0.6% decline in the S&P 500. That drop pushed the stock down further in 2022, although shares are modestly outperforming the market's 13% loss so far this year.
Consumers are looking to save money on essentials today, and that behavior is putting a new spotlight on price leaders like Costco Wholesale (NASDAQ: COST) and Kroger (NYSE: KR). Kroger is much cheaper, while Costco promises more stable earnings. Kroger said in early September that second-quarter comparable-store sales rose 6%, which was good enough to convince management to raise its 2022 outlook.