Costco Gold And Silver Bars Are Hot Sellers Online Amid Inflation

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 Costco (COST) beat earnings and revenue estimates for its fiscal third quarter late Thursday as more shoppers flocked to its stores. Costco stock fell near a buy point Friday along with other discounters.


The discount retail giant did not raise membership fees Thursday, an area some investors and analysts have been watching.

The earnings call late Thursday was the first by new CFO Gary Millerchip and new CEO Ron Vachris. Under new management, the earnings report showed "a welcome effort to provide increased transparency into the performance of the business," analyst Phillip Blee of William Blair wrote in a note to clients Friday. He said he does not expect any major changes in operations.


"However, the new management team seemed to be increasingly open about efforts to enhance its digital capabilities, particularly around omnichannel functionality and harnessing membership data for personalization and retail media, which should provide an incremental lift longer term after the company has remained successfully stubborn in adopting inno nivation in these key areas," Blee added.

Costco Gold Bars Driving E-Commerce Growth

Costco has been stepping up its online efforts, with e-commerce sales jumping 20.7% in Q3. "Total e-commerce sales growth in the quarter was led by gold and silver bullion, gift cards and appliances," CFO Millerchip said on the Costco earnings call, without breaking out exact sales figures for bullion.

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