Costco Reports Record Gas Sales Amid Rising Fuel Prices
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- Costco reported record‑breaking gas volumes in its fiscal third quarter, with the final five weeks (ending May 10) becoming its top five volume weeks ever as shoppers sought cheaper fuel amid the Middle‑East war.
- Costco saw an influx of first‑time members at its gas stations, a trend the company expects will boost future loyalty and increase in‑warehouse spending.
- Costco posted net sales of $69.15 billion, up 11.6% year‑over‑year, and adjusted comparable sales rose 6.6% for the quarter, beating Wall Street expectations.
- Costco announced it is filing tariff‑refund claims after a Supreme Court decision invalidated some Trump‑imposed levies, planning to pass any refunds to members in the coming months.
- Costco reported net income of $2.19 billion ($4.93 EPS) versus $1.9 billion a year earlier, while digital sales jumped nearly 21% and paid memberships grew 4.1%.
Why it matters: Members benefit from lower fuel costs and potential refunds, while Costco captures higher traffic and spend; the surge pressures competitors to match low‑price gas, tightening margins across the retail fuel market.
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