Costco exceeded Wall Street’s expectations in its latest quarterly earnings report, with sales rising 8.2% year over year. The company did not provide a full-year outlook but is expected to share more details during an upcoming earnings call. Costco’s net income rose to $2 billion, with revenue increasing to $67.31 billion in the three-month period ending Nov. 23.

The warehouse club has seen increased membership and higher sales, particularly among younger customers, who have been attracted by value offerings. Costco’s digital sales jumped by 20.5% year over year, and comparable sales increased by 5.9% in the U.S. and 6.4% globally. The company has faced rising costs due to higher tariffs on imported goods, affecting about a third of its U.S. sales.

Costco has taken steps to mitigate the impact of tariffs, including introducing new items from its private-label brand and shifting to categories less affected by tariff costs. The company recently sued the Trump administration to seek a refund of tariffs paid and to block additional duties while awaiting a Supreme Court ruling. Costco’s shares have declined by nearly 4% this year but have risen by 141% over the past five years, closing at $884.48 on Thursday for a market value of $392.67 billion.

Read more at CNBC: Costco (COST) earnings Q1 2026