Costco Wholesale stock rose more than 2% after the retailer released positive sales results for September.
The company reported net sales of US$26.58 billion for the period ending 5 October, an increase of 8% year-over-year.
Comparable sales climbed by 5.7%, led by a 6.3% rise in the United States and 6.3% growth in Canada, with an 8.5% increase across other international markets.
Online sales jumped by 26% from last year as shoppers turned to digital channels as the company operates 914 warehouses, including 629 in the United States.
It also noted that comparable sales for the prior year benefited 2% in the U.S. and 1.5% worldwide from temporary demand spikes tied to Hurricane Helene and port disruptions, suggesting this year's growth came from steadier demand patterns.
The rise in sales has also been driven by membership growth.
"At Q4 end, we had 38.7 million paid executive memberships, up 9.3% versus last year. Executive members represented 47.7% of paid members and 74.2% of worldwide sales,” CFO Gary Millerchip said during the company's fourth quarter earnings call in September.
At the time of writing, Costco (NASDAQ: COST) stock was up 3.07% to US$942.89.
