Costco Earnings Dive

March 7, 2024

Costco is trading at all-time highs.

The bulk-retailer, infamous for its $1.50 hotdog combo and unique product offerings, is surging on LikeFolio’s consumer front, too:

Mentions are up +19% YoY and accelerating as google searches for its membership power higher, easily beating its next closest competitor, Sam’s Club (WMT).

And eCommerce is showing signs of ramping.


In January, Costco logged a 4.5% increase in sales to $22.08 billion, driven by a significant surge in e-commerce demand, marking a robust start to the year despite having one less shopping day compared to the previous year.

LikeFolio data confirms Costco is catching up to other retailers with more established eCommerce channels:

While the company takes a bit of the wind from our sails with its monthly sales updates, we expect it to put out a strong report that highlights continued momentum from digital channels.

Our score is on the high-end of neutral, mostly do to the fact that we believe most large moves are priced in.

However, any updates related to membership pricing increases could send this one higher – the company hasn’t raised the prices of its membership since 2017, electing to avoid spooking consumers who are wary in the current economy. Traditionally, the retailer hikes fees every 5-6 years.

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