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Costco hits new high

Post by John Gillie / The News Tribune on Sep. 22, 2010 at 2:38 pm with No Comments »
September 22, 2010 2:38 pm

Issaquah’s Costco Wholesale Corp. stock set a 52-week high today in New York trading.

The wholesale warehouse club’s stock closed at $62.33 a share after briefly trading at $62.45. That closing price was up 1.73 percent from Tuesday’s close. The stock’s prior 12-month high was $62.12 a share.

The runup in Costco shares came after favorable predictions from Wall Street analysts. The company’s low-cost strategy has fared well during the recession as shoppers sought out bargains.

Costco continues expanding its worldwide footprints even as some of its competitors are culling stores. Most recently, the chain has begun opening stores in malls where traditional anchor stores have been clipped by the recession.

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