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Costco Q2 2017 earnings - Business Insider

(Reuters) - Warehouse club retailer Costco Wholesale Corp reported lower-than-expected quarterly comparable-store sales and profit as big grocery chains competed fiercely to attract customers with lower prices.

The company's shares fell about 4 percent to $170.80 in extended trading on Thursday.

Price war in the industry has intensified, with Wal-Mart Stores Inc reportedly running a new price-comparison test to knock out competition from grocery chains and big-box retailers.

via www.businessinsider.com

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