The news: Costco’s comparable sales jumped more than expected in Q4, as shoppers happily splashed out on big-ticket items like 99-inch televisions and gold jewelry and visited the retailer more often to purchase groceries.
Behind the numbers: The sizable increase in February sales is particularly notable since early signs point to softening consumer spending during the month, due to factors ranging from colder weather, the LA wildfires, and a drop in consumer confidence. It also suggests that Costco emerged from February 28’s economic boycott unscathed—and that its commitment to DEI hasn’t hurt its standing with shoppers.