Costco reported net sales of $270 billion in fiscal 2025, driven by same‐store sales growth across six consecutive years despite macro headwinds. In its first quarter of fiscal 2026, comparable sales rose 6.4% year‐over‐year (adjusted for fuel and FX), while digitally enabled comparable sales surged 20.5%. Membership fee income reached $1.3 billion, a 14% increase, supported by a membership base of 81.4 million and renewal rates of 92.2% in the U.S. and Canada and 89.7% globally. CFO Gary Millerchip highlighted initiatives to enhance engagement with digitally signed members to stabilize renewal trends.

Barlow Wealth Partners increased its stake by 2.2% in the third quarter, holding 34,452 shares, making Costco its sixth largest position at a reported value of $32.55 million. Vanguard Group boosted its holdings by 1.7% to 43.36 million shares, the largest institutional stake, while State Street and Geode Capital Management also raised positions. Norges Bank initiated a new stake valued at approximately $5.69 billion. Insiders have sold 9,315 shares worth $8.55 million over the past 90 days; EVP Javier Polit and EVP Russell D. Miller reduced their holdings by 16.0% and 15.4%, respectively, signaling mixed signals on near‐term conviction.

Costco’s balance sheet remains robust with a debt‐to‐equity ratio of 0.19, a quick ratio of 0.53 and a current ratio of 1.04, underscoring ample liquidity and low leverage. The retailer plans to open 28 net new warehouse clubs in fiscal 2026, targeting an eventual pace of 30-plus openings annually, half in the U.S. Recent new locations averaged $192 million in annualized net sales, a 28% uplift over prior cohorts, reflecting refined site‐selection and operational execution strategies.