Over the past six fiscal years, Costco’s same-store sales have grown consecutively despite a global pandemic, supply chain bottlenecks and record inflation. In fiscal 2025, organic revenue growth at established locations exceeded 6% year-over-year, demonstrating management’s ability to attract more foot traffic and increase average transaction sizes under challenging macro conditions. This consistent outperformance of peers underscores the stability of core demand for Costco’s low-price, essentials-focused model.

Costco reported 81.4 million members worldwide in Q1 of fiscal 2026, generating $1.3 billion in membership fee income. Renewal rates held at 92.2% in the U.S. and Canada and 89.7% internationally, only marginally below the prior quarter despite a shift toward digitally signed enrollments. These figures translate into a high-margin, recurring revenue stream that supports both operating leverage and cash flow predictability, reinforcing investor confidence in the durability of Costco’s membership base.

Costco operates 921 warehouses globally and plans to open 28 net new locations in fiscal 2026, targeting a long-term annual pace of 30-plus openings with roughly half in North America. New warehouses in fiscal 2025 delivered average annualized net sales of $192 million—28% higher than those opened two years earlier—reflecting refined site selection and rollout processes. This expansion strategy underpins projections for sustained top-line growth as each incremental store dilutes corporate fixed costs and enhances purchasing scale.