TLDR
- September net sales hit $26.58 billion, up 8% year-over-year
- Comparable sales grew 5.7%, topping the 4.6% analyst forecast
- Digital sales surged 26.1% as online shopping gains traction
- International markets outperformed with Canada up 9.3%
- Shares jumped 1.4% after hours on the strong results
Costco reported September net sales of $26.58 billion, representing an 8% increase from the $24.62 billion posted in September 2024. The warehouse retailer beat analyst expectations across the board.
Total comparable sales climbed 5.7% for the month. Wall Street had projected growth of just 4.6%.
Shares rose 1.4% in after-hours trading Wednesday following the announcement. The stock continued climbing with a 1.3% gain in Thursday’s premarket session.
U.S. comparable sales increased 5% when stripping out gasoline price changes and foreign exchange impacts. Analysts had estimated 4.2% growth.
The retailer credited higher customer traffic and increased spending per visit for the strong numbers. Consumer demand at warehouse locations remained steady throughout the month.
International Markets Deliver Strong Performance
Costco’s operations outside the U.S. showed even better results. Canada posted a 9.3% increase in comparable sales on an adjusted basis.
Other international markets grew 7.5% using the same calculation method. These figures excluded gas prices and currency fluctuations.
The company’s digitally-enabled sales category jumped 26.1% in September. This metric covers all sales delivered to members that start on a digital device.
Costco recently updated how it tracks online activity. The new digitally-enabled sales metric replaced the previous e-commerce measurement.
Last year’s September results got a boost from unusual events. Hurricane Helene and port strikes created abnormal buying patterns.
These circumstances added roughly 2% to U.S. sales and 1.5% to worldwide sales in September 2024. The year-over-year comparison factors in this difference.
Analysts See Positive Signs
Steven Zaccone at Citi, who rates the stock neutral, called the September data “an important data point.” The results calm fears about weakening retail conditions.
Recent consumer spending data had sparked some concerns. Costco’s performance shows retail trends staying “solid and steady,” Zaccone noted.
After adjusting for last year’s port strike benefits, same-store sales growth actually picked up compared to August. This acceleration suggests growing momentum.
Holiday Season Ahead
The September results arrive as retailers gear up for holiday shopping. This period typically accounts for a large chunk of annual revenue.
When removing the impact of last year’s one-time events, Costco demonstrated improving trends. The comparable sales beat came with strength across all geographic regions.
The warehouse club model continues attracting shoppers looking for bulk purchases at lower prices. Membership-based shopping remains popular with budget-conscious consumers.
Digital sales growth of 26.1% shows customers embracing online ordering. The shift to digitally-enabled purchases represents a growing part of Costco’s business.
Costco posted comparable sales increases in the U.S., Canada, and other international markets for September 2025.
