Costco Wholesale (NASDAQ:COST) posted solid first-quarter results, with rising revenue and better-than-expected earnings, as cost-conscious shoppers flocked to its warehouses for affordable groceries and discretionary goods. For the quarter, total revenue increased nearly 7% year-over-year to $62.15 billion, slightly below analyst forecasts of $62.33 billion. Earnings per share came in at $4.04, surpassing the $3.78 consensus estimate and marking a significant improvement from $3.58 in the same quarter last year. Costco’s gross margin expanded by 24 basis points to 11.3%, exceeding market expectations and signaling improved operational efficiency. The company also reported strong growth in its membership program, with paid memberships rising 7.5% and membership fee income increasing by 8%.
C ostco Wholesale Corporation, together with its subsidiaries, engages in the operation of membership warehouses in the United States, Puerto Rico, Canada, the United Kingdom, Mexico, Japan, Korea, Australia, Spain, France, Iceland, China, and Taiwan. It offers branded and private-label products in a range of merchandise categories. The company offers sundries, dry groceries, candies, coolers, freezers, liquor, and tobacco and deli products; appliances, electronics, health and beauty aids, hardware, garden and patio products, sporting goods, tires, toys and seasonal products, office supplies, automotive care products, postages, tickets, apparel, small appliances, furniture, domestics, housewares, special order kiosks, and jewelry;