Costco (COST): FY26 Q4 earnings call, Sep 24, 2026

…a quarter of our total base. While these younger members start out spending a little less with us, over time, they grow into higher-spending members.…

…about in prior quarters. Our members continue to show resilience in their spending, and they show a willingness to spend in discretionary areas where they're…

…we still feel very good about the comparable sales trajectory that we see in our performance and how our members are showing up and spending.

…think there's an opportunity to improve how frequently and how much they're spending at Costco. In a U.S. market, we might see less members per…

…things you describe. We see members being very thoughtful about where they're spending their dollars. They're looking for value in everyday items. But they're also,…

…I would like to welcome everyone to the Costco Wholesale Corporation fourth quarter fiscal year 2026 conference call. All lines have been placed on mute…

…results include a non-recurring benefit of $0.15 per diluted share from IEEPA tariff refunds received in the quarter, less partial reinvestment of those refunds in…

…high-fiber options such as edamame and granola snacks, all experienced strong growth. Kirkland Signature items play an important role in how we deliver greater value…

…40-55 or so is when we see our members hit that peak spending pattern because their income is generally at its peak and they're also…

…expanding our digital capabilities. We increased member value and convenience through our GLP-1 and fertility programs, as well as digital options like RX mobile pay…

…renewal rates as executive members generally renew at a higher rate than Gold Star members. Turning now to gross margin. Our reported gross margin rate…

…These partnerships will complement the successful long-term partnership that we've had with Instacart in the U.S. and Canada. Members using these new marketplaces are significantly…

…commitment to great quality and value fueled continued growth in both lower-cost proteins, such as poultry and ground beef, as well as premium items such…

…and inflation on items directly affected by the ongoing conflict in the Middle East, such as gas, motor oil, and resins, were the biggest drivers.…

…I think especially because of the uncertainty around the situation with the Middle East and how long that might impact and what you might see…

…back to a little bit more normalcy. Feel very good about the holidays, feel very good about the buying lineup that our folks have. As…

…efficiencies drove margin improvement across all categories. Fresh also benefited from higher labor productivity in meat, bakery and deli. Non-foods benefited from strong sell-through rates…