Costco just reported a strong 8% comp sales result excluding the FX impact and excluding gasoline inflation. On their quarterly conference call they are detailing the first membership fee increase in 5-years. Regular Gold Star memberships will go up by $5 to $55 effective November 1st. Gross margins at Costco were down slightly but were flat when you look at core merchandising gross margins ex gasoline.
Costco (COST) stock price is down 2% but with sales this strong and growth around the world the sell-off may be short lived. Costco is doing an incredible job opening highly productive units in Australia, Taiwan and Japan as the warehouse retail concept resonates around the world.
