The Ratings Game: Costco shares’ worst stretch since Great Recession was after Amazon–Whole Foods deal

Shares of Coscto Wholesale Corp. continued their retreat Friday, extending the most damaging stretch of losses since the Great Recession, fueled by news of Amazon.com Inc.’s deal to buy Whole Foods Market Inc.

Analyst Mark Astrachan at Stifel Nicolaus, who hosted a recent meeting with Costco executives, including Chief Financial Officer Richard Galanti, said the membership-based warehouse retailer’s executives were “surprised at both the deal and the negative share-price reaction,” as they believed other grocers would be more exposed than Costco to competition stemming from the deal.

Costco’s stock COST, -1.66% slumped 1.7% on Friday to its lowest closing level since Dec.

>>> Original Source <<<