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Costco’s net sales rose 10.1% to $297.2 billion in fiscal 2026, while U.S. comparable sales increased 8.2%. Those results came as retailers described shoppers as more price-sensitive, but they do not prove that a nationwide shift toward value caused Costco’s growth. Costco’s figures also reflect sales at newer warehouses, shopping frequency, average spending per visit, and changes in fuel prices and foreign exchange.
How much did Costco sales grow?
Costco reported $297.2 billion in net sales for fiscal 2026, up 10.1% from $269.9 billion in fiscal 2025. The fiscal year ended August 30, 2026, and the company reported the results on September 24, 2026.
Comparable sales provide a different view because Costco calculates them for warehouses and digitally enabled businesses operating for more than a year. They therefore exclude the direct contribution of newer locations that is included in total net sales.
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|---|---|
| Total net sales | 10.1% |
| Total-company comparable sales | 8.4% reported; 6.6% excluding gasoline-price and foreign-exchange effects |
| U.S. comparable sales | 8.2% reported; 6.6% excluding gasoline-price and foreign-exchange effects |
The adjusted comparable-sales figures remove the effects of gasoline-price changes and foreign exchange; they are not a measure adjusted for all inflation. Costco says both factors can influence year-over-year comparisons. The reported and adjusted rates answer different questions, so neither should be substituted for the other.
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Does the surge show Americans are shifting spending toward value?
It is consistent with value-seeking, but it does not establish that the trend caused Costco’s annual sales increase. In May 2026, retailer commentary described shoppers as more selective and price-sensitive. Burlington CEO Michael O’Sullivan put the sentiment this way: “The customer is voting for value,” as quoted by Axios on May 28, 2026.
That is useful context about how retailers were describing customers, not a national measurement of where spending shifted or a breakdown of Costco’s sales growth. Associated Press reporting also described consumers changing fuel and discretionary-shopping routines amid higher costs. Costco CFO Gary Millerchip said members were visiting fuel stations more often to top up between trips because they were concerned about what gas might cost later, according to the Associated Press.
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These observations suggest cost pressure can change shopping behavior. They do not show that every shopper is trading down, that Costco’s growth was caused by a broad shift from other retailers, or how much of the company’s sales increase came from value-conscious customers.
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What can explain Costco’s comparable-sales growth?
Comparable sales can increase when members visit more often, spend more per visit, or both. For fiscal 2025, Costco reported comparable-sales growth of 6%, attributing 5% to shopping frequency and approximately 1% to average ticket. It also said sales at 24 net new warehouses contributed to total net-sales growth that year. Those are explanations for fiscal 2025, not a causal breakdown of fiscal 2026.
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The distinction matters: total sales include contributions from new warehouses, while comparable sales are designed to track established operations. And sales growth is revenue growth; without a cited unit-volume measure, it should not be presented as proof that Costco sold 10.1% more items.
Independent reader supportYour contribution helps us test, update, and keep practical guides available for everyone.How much of Costco’s business is digital or tied to Executive members?
Costco’s FY2026 Form 10-K says digitally enabled sales represented 11% of total net sales. The company’s definition includes purchases initiated on a digital device and fulfilled through a warehouse or distribution center, as well as Costco Travel. It is therefore broader than a simple count of packages shipped to customers.
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The same filing says Executive members accounted for approximately 75.2% of worldwide net sales. Executive rewards are generally 2% on qualifying purchases, subject to an annual maximum. These figures describe the composition of Costco’s business; they do not by themselves explain the year’s increase in sales. See the FY2026 Form 10-K for the company’s definitions and qualifications.
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What should readers take from the results?
- Costco’s reported annual sales grew 10.1%, and established operations also recorded strong comparable-sales growth.
- The adjusted comp figure removes gasoline-price and foreign-exchange effects, not general inflation.
- Retailer commentary supports the idea that shoppers were seeking value, but the available figures do not isolate that behavior’s contribution to Costco’s results.
- Costco’s fiscal 2025 discussion of frequency, average ticket, and new warehouses can illustrate possible growth mechanisms, but it is not a fiscal 2026 attribution.
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