Why Costco's Stock Is Trading Higher Today

Costco Wholesale Corporation COST shares are trading higher after the company reported June comparable sales of $16.18 billion, an increase of 11.5% from $14.57 billion year-over-year.

"For the forty-four weeks ended July 5, 2020, the Company reported net sales of $136.37 billion, an increase of 8.1 percent from $126.13 billion during the similar period last year," the company said in a press release.

Costco sells memberships that allow customers to shop in its warehouses, which feature low prices on a limited product assortment. Costco mainly caters to individual shoppers, but roughly 20% of paid members carry business memberships.

Costco's stock was trading up 2.28% at $323.59 per share on Thursday at the time of publication. The company has a 52-week high of $325.26 and a 52-week low of $262.71.