Costco reported fiscal Q3 results on May 28th after the market closed, with net sales increasing 11.6% to $69.15B and total company comparable store sales up 6.6% (excluding gas and foreign exchange). Results largely met expectations and reflected continued market share gains, strong traffic trends, and another quarter of digital growth above 20%. Margin performance came under modest pressure as higher gas prices, pharmacy growth, and accelerated eCommerce penetration weighed on mix, while Costco also strategically invested in lower pricing on select commodities and widened its fuel price advantage versus competitors.
Management sounded particularly confident in Costco’s positioning within the current environment, emphasizing that elevated gas prices and broader consumer uncertainty are driving increased engagement, trips, and loyalty among members. Overall, the quarter reinforced Costco’s ability to gain share and deepen member engagement in an increasingly price-sensitive consumer environment, with little movement in the stock after hours following the release.
*Note: Costco’s fiscal year runs from September to August, making their fiscal Q3 which ended May 10, 2026, comparable to other retailers’ Q1 2026 results.
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