Costco continues its growth streak in JanuaryCostco continues its growth streak in January

The positive earnings streak continues for Costco, as the warehouse retailer announced its January performance earlier this week. The Issaquah, Wash.-based company reported U.S. net sales of $19.51 billion for January, reflecting a year-over-year increase of 9.2%. U.S. comparable sales, excluding impacts from changes in gasoline prices and foreign exchange, also grew by 9.2%.

For the first 22 weeks of fiscal year 2025, Costco’s net sales totaled $113.55 billion, marking an 8.2% increase compared to the previous year. Ecommerce sales rose by 15.2% year over year in January.

Costco opened FY 2025 by setting records. The warehouse retailer set a record by selling 4.2 million pies three days before Thanksgiving and 274,000 pizzas on Halloween. Additionally, Costco’s U.S. pharmacy business saw prescription growth exceeding 19% for the first quarter, setting volume records. Costco Logistics also completed nearly 1 million deliveries during the quarter that ended on Nov. 24, marking a fourth milestone.

Net sales grew by 7.5% year over year, reaching $60.99 billion, and comparable sales in the U.S. were 7.2% higher than in Q1 2024, excluding the effects of gas prices and foreign exchange.

Costco also avoided a strike with 18,000 workers in five states by reaching a tentative agreement earlier this week. Details of the contract will be made available after receiving approval from International Brotherhood of Teamsters members.

Related:Retailer DEI backlash: Where do we go from here?

In late January, the warehouse retailer announced that it would raise the hourly wage to more than $30 an hour for most workers. It’s unclear whether this move helped avert a strike. The Teamsters, however, had been lobbying for wage increases, as well as improvements to retirement benefits, seniority pay, paid family leave, bereavement policies, and safeguards against surveillance.

Costco has been the focus of retailer Diversity, Equity, and Inclusion (DEI) policies after announcing it was standing pat with its strategy and will not follow other retailers like Target and Walmart, which have decided to ditch their DEI movement. 

At the retailer’s annual shareholder meeting in January, 98% of shareholders supported Costco’s decision not to conduct a full evaluation of the program and publish a report evaluating the potential risks associated with its DEI policy. Conservative think tank National Center for Public Policy Research called for the evaluation.