Why Costco Stock Dropped Today
Costco Wholesale (NASDAQ: COST) stock stumbled on Thursday, falling 2.6% through noon ET on some news from grocery rival The Kroger Co. (NYSE: KR).
In an interview with Bloomberg published today, new Kroger CEO Greg Foran announced plans to implement "big price cuts" to better compete with rivals, including Costco (but also (NASDAQ: WMT), Amazon.com (NASDAQ: AMZN), Trader Joe's, and Aldi) on price.
Image source: Costco.
Source Fool.com
Kroger Co. Stock
€50.49
-0.880%
With 27 Buy predictions and not a single Sell prediction Kroger Co. is an absolute favorite of our community.
With a target price of 67 € there is a positive potential of 32.7% for Kroger Co. compared to the current price of 50.49 €.
