BUSINESSMARKETWATCH
Higher gas prices are driving people to membership retailers — and Costco is the latest to benefit
Costco's same-store sales increased by 9.8% in its third quarter, exceeding Wall Street's estimates, with gasoline sales contributing to the growth. Higher gas prices are driving consumers toward membership retailers like Costco.
Related Signal
Adjacent reporting
- Retail sales up 1.7% in March from February driven by a spike in gas prices
- U.S. retail sales rise again, but higher gas prices and inflation play a big role
- US Retail Sales Moderate in April as Gasoline Prices Surge
- US Retail Sales Soar in March Led by Spending on Gas
- Retail sales up 0.5% in April from March as higher gas prices leave less room for nonessential items
- Costco says it saw 'record-breaking' gas volumes amid rising prices