Costco Q4 tops Street, to open 35 new warehouses; holiday mix to look ‘different’

Costco Wholesale Corp. reported another solid quarter amid strong e-commerce sales, and as it continues to attract new members. 

The retailer’s membership fee income rose 14% to $1.72 billion during the quarter. In September 2024, Costco raised its annual membership fee — the first hike since 2017 — by $5. On the earnings call, CFO Gary Millerchip said that the increase accounted for a little less than half of its membership fee income growth in the quarter.

During the summer Costco gave its premium “Executive” members extra hours to shop in its stores in the morning and on Saturdays. CEO Ron Vachris said during the call that the extra hours had added about 1% to weekly U.S. sales and been “very well received” by members.

Costco opened 27 new warehouses, including three relocations, during its recently completed fiscal year. The company plans to open another 35 warehouses in its new fiscal year, including five relocations, Vachris told analysts.

“We continue to see significant opportunities for expansion both domestically and internationally across the markets where we currently operate,” he told analysts.

Costco Q4 tops Street, to open 35 new warehouses; holiday mix to look ‘different’ | Chain Store Age

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