Why Costco Shares Pushed Higher Friday

Why Costco Shares Pushed Higher Friday

The big-box retailer reported earnings for the period ended Nov. 20 last night, and the initial reaction Friday morning was a 2.3% drop in shares. As of 11:15 a.m. ET, Costco shares were trading higher by 1.5%. Gross margin dropped year over year, but management noted a pretax charge of $93 million contributed to that drop.