Business is Booming at Costco (COST)

As the Black Friday shopping frenzy approaches. Business is booming at America’s favorite discounter Costco Wholesale (COST).

Costco’s quarterly revenues grew by 0.96% from $78.94 billion in September 2023 to $79.7 billion in September 2024. Similarly, Costco’s quarterly net income grew by 8.98% from $2.16 billion in September 2023 to $2.35 billion in September 2024.

Plus, Costco was America’s third largest grocer with an 8.3% of the US grocery market in July 2024, Supermarket News reports. In contrast, America’s largest grocer, Walmart (WMT) had a 21.4% share and the second-largest grocer Kroger (KR) held an 8.9% share of the grocery market.

Costco Owns the Wholesale Club Market

Costco had 132 million members and 71 million paid subscribers worldwide in 2023, Contimod estimates. The number of Costco paid memberships grew from 65.8 million in 2022 and 53.9 million in 2029. Impressively, 92.7% of US Costco shoppers renewed their memberships in 2024. Plus, Costco had an 82% customer satisfaction rate in 2023 up from 81% in 2022.