Costco Sells Gold Bars To Customers [Forbes]
Costco Wholesale Corporation (COST)
Last costco wholesale corporation earnings: 3/5 04:15 pm
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Source: Forbes
Supermarket News quotes Wells Fargo WFC analysts that suggest sales “may be running at $100 million to $200 million a month”. Sales have accelerated since the warehouse club introduced the gold bars last Fall (2023). The gold bars are available at Costco's on-line site, and retail prices fluctuate with the price of gold. Customers are limited to buy two bars, Supermarket news correctly points out that Costco makes a small profit on the sale of these bars. “It is not all shiny news though. In terms of bottom-line profit, the big box retailer sees a low premium on the gold bars, and additionally it further offers 2% cash back for executive members and another 2% for those who use their Citigroup C credit card. The sales are adding about 3% to general merchandise sales, but are not contributing much to profit, one analyst said.” It ends with the comment that all that glitters is not gold. There are other questions that come to mind. 1. Suppose you want to return the gold bars. Is C
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COST
Earnings
- 3/7/24 - Beat
COST
Sec Filings
- 4/18/24 - Form 4
- 4/17/24 - Form 144
- 4/10/24 - Form 8-K
- COST's page on the SEC website