breaking

Costco Reports Record Gas Volumes, Beats Revenue Expectations in Q3

Costco Wholesale posted record-breaking fuel volumes during its fiscal third quarter ended May 10, driven by elevated prices amid Middle East tensions. The retailer's final five weeks marked its strongest volume weeks ever as customers sought cheaper gas. CEO Ron Vachris noted the company attracted first-time members to its fuel stations, which is expected to boost warehouse spending as members who use gas stations typically spend more. Net sales increased, surpassing Wall Street forecasts. Adjusted comparable sales rose 6.6% while digital transactions jumped nearly 21%. Paid memberships grew 4.1% and website traffic increased 37%. Top-performing categories included pharmacy, home furnishings, and jewelry. Costco also began pursuing tariff refund claims and expects to receive approvals on a rolling basis.