Costco earnings on deck with big ticket demand, spending outlook in focus

shares edged lower in pre-market trading ahead of the bulk discount retailer's fourth quarter earnings slated for after the closing bell.

The summertime surge in gas prices, which lifted the average cost of a gallon to around $3.96 last month, according to Energy Department data, is likely to boost foot traffic at Costco as members take advantage of discount gas prices . Costco said in late May that weaker spending on big-ticket items held back sale-store sales for the three months ending on May 7, as overall net revenues rose 1.9% from last year to $52.6 billion, missing Street forecasts.

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