(MENAFN - Baystreet) A retail stock that has been unstoppable in recent years is Costco Wholesale (NASDAQ:COST). It has routinely posted strong numbers with impressive comparable sales growth rates, and investors have been bullish on its future, as there are still many markets for the retailer to expand into in the future. Plus, with membership price hikes also recently pushed through, the company's numbers should get a further boost in upcoming earnings reports.

This year, shares of Costco have risen by around 38% and in five years the stock has tripled in value.

A big caveat with investing in Costco today is that it isn't a cheap stock - it's trading at a price-to-earnings multiple of 55. That's not typical for a retail stock. Walmart (NYSE:WMT), which isn't cheap either, still trades at a far lower P/E ratio of 44. Investors are paying a hefty premium for Costco stock and that can make it vulnerable to a sell-off if the economy slows down.

Costco's stock has been declining in recent days and for a while it looked as though it might hit the $1,000 mark sooner rather than later. Its next earnings report comes out in December, and that could be the key catalyst to drive it to that milestone price, or it could lead to a further drop off in share price.

But regardless of what happens after its next earnings report, this is still a business that has proven to be rock-solid over the years and it's likely just a matter of time before the stock hits $1,000. Even if it doesn't hit that level this month or before the end of the year, it's highly probable that it will eventually do so. And if you're a long-term investor, this can still a good stock to pick up right now.

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