Costco has accelerated its warehouse growth, opening 25 new warehouses across North America and Asia during fiscal 2025, compared with 18 openings in the prior year. The company’s faster ramp-up of new sites has driven membership adds of 8.5 million over the past twelve months, while innovative reuse of underperforming locations—converting former retail outlets into high-volume bulk centers—has saved an estimated $150 million in buildout costs. Management expects to add at least 80 net new warehouses over the next three years, leveraging its proven site-selection model and deep relationships with commercial landlords to sustain high-single-digit warehouse growth and support global sales expansion.

An investment of $1,000 in Costco stock twenty years ago would now be worth approximately $27,600, including reinvested dividends, compared with roughly $7,900 for the S&P 500 over the same period. Despite a 6% share decline in calendar 2025, Costco delivered 8.2% comparable sales growth in its fiscal first quarter ended November 23, 2025, and added 2.3 million new members, with 1.1 million upgraded to executive status. The executive membership base now represents 44% of total paid members, driving consistent membership-fee revenue growth of 6.5% year-over-year and undergirding operating margins above 4.0%.

Costco quietly increased its branded credit card’s gas rewards from 4% to 5% cash back on fuel purchases at warehouse-brand gas stations, capped at the first $7,000 in annual spending. This change raises the maximum annual cashback from $280 to $350, after which the rate reverts to 1%. Non-warehouse fuel and electric vehicle charging purchases continue to earn 4% up to the same cap. The move is expected to drive higher card adoption among Costco’s more than 80 million paid members, improve credit-card unit economics by boosting transaction volume, and support the company’s goal of maintaining membership renewal rates near 90%.