English Title:
Should You Buy Costco Stock Now After Strong September Retail Sales?

中文标题：
在九月零售后?

English Content:
Costco Wholesale Corporation's COST September sales update offers fresh insight into the retail giant's momentum. A dominant force in the warehouse club space with a long track record of growth, Costco has remained an investor favorite. However, the latest sales figures raise a key question: Should investors buy the stock now, hold their positions or book profits? The September report showed solid comparable sales growth across regions, along with accelerating e-commerce sales. This reinforces the view that Costco's operational execution and customer loyalty remain strong despite a challenging retail backdrop. Breaking Down Costco's September Sales Report Costco reported net sales of $30.02 billion for the five weeks ended Oct. 4, 2026, representing a 13% increase from $26.58 billion in the year-ago period. Total comparable sales rose 11.4%, reflecting healthy demand across its operating regions. Comparable sales increased 12.5% in the United States, 6.3% in Canada and 10.8% in Other International markets. Excluding the impacts of gasoline price fluctuations and foreign exchange movements, total comparable sales advanced 7.6%. Costco's membership-driven business model remains a key competitive strength, with high renewal rates providing a steady revenue stream and reinforcing customer loyalty. Its bulk purchasing power, strong supplier relationships and efficient inventory management enable the retailer to maintain competitive pricing. This value-focused approach resonates with budget-conscious consumers seeking affordability and quality, supporting consistent demand and strengthening Costco's position in a competitive retail environment. (Read: Costco's September Sales Rise 13% on Strong Comps, Digital Growth) Unlocking Costco's Growth Drivers Costco continues to stand out as a compelling long-term investment opportunity, supported by its resilient business model, strong customer loyalty and continued market-share gains. The warehouse retailer's focus on offering quality merchandise at competitive prices continues to attract shoppers and encourage higher spending, even in an uncertain consumer environment. Its ability to cater to both value-conscious households and consumers seeking premium products strengthens its competitive positioning. The continued expansion of its Kirkland Signature private-label portfolio, which offers meaningful savings over national brands without compromising quality, reinforces Costco's pricing advantage. The company's membership-driven business model remains a cornerstone of its long-term investment appeal, providing a dependable recurring revenue stream and supporting sustained customer engagement. Costco ended fiscal 2026 with 84.1 million paid memberships, representing 3.8% growth, while total cardholders increased 3.6% to 150.4 million. Fourth-quarter membership fee income advanced 7.3% to approximately $1,850 million. Worldwide renewal rates improved 10 basis points sequentially to 89.8%, while U.S. and Canadian renewal rates reached 92.3%. The company is also attracting younger consumers, with members under 40 now representing more than a quarter of its membership base. Growing adoption of Costco's premium Executive membership tier provides a meaningful opportunity to strengthen customer engagement and increase spending per member. Executive members generally spend more and renew at higher rates than Gold Star members. Costco ended fiscal 2026 with 42.3 million paid Executive members, up 9.4% year over year. These members accounted for 75.6% of total sales. Management believes the combination of membership expansion, stronger Executive penetration and greater spending per member can sustain revenue growth. Targeted digital communications, enhanced membership benefits and personalized engagement initiatives should further reinforce customer loyalty and strengthen Costco's ability to capture a larger share of household spending. Costco's expanding digital capabilities provide another compelling growth avenue as consumers increasingly prioritize convenience, faster fulfillment and seamless shopping experiences. The retailer is strengthening its omnichannel ecosystem through website and mobile application improvements, personalized product recommendations, and expanded delivery partnerships with Instacart, DoorDash and Uber Eats. These initiatives are helping attract younger shoppers and capture additional purchasing occasions beyond traditional warehouse visits. Digitally enabled sales exceeded $33 billion in fiscal 2026, growing more than 20%. Management indicated that third-party delivery sales are largely incremental, complementing rather than replacing warehouse purchases. Costco is also exploring opportunities in artificial intelligence-driven product discovery while improving online product visibility and customer engagement. Costco's expanding warehouse network and diversified ancillary businesses further strengthen its long-term growth prospects. The company ended fiscal 2026 with 939 warehouses worldwide and plans to open 33 locations in fiscal 2027, including five relocations. Its longer-term ambition of reaching approximately 30 net new warehouses annually highlights substantial opportunities across underserved U.S. markets and international regions. Alongside physical expansion, Costco continues to broaden its appeal through gasoline, pharmacy and travel services, which provide compelling reasons for members to engage more frequently with the brand. Management plans roughly $7.5 billion in fiscal 2027 capital expenditures, primarily supporting warehouse expansion and supply-chain improvements. These investments should strengthen Costco's operating capabilities and support sustainable growth over the long term.

中文正文：
Costco批发公司9月COST最新销售情况,为零售巨头的动力提供了新的见解. 作为仓库俱乐部空间中有着长期增长记录的主导力量,Costco一直是投资者的最爱. 然而,最新的销售数字提出了一个关键问题:投资者应该现在购买股票,持有自己的职位还是账面利润? 9月的报告显示,各区域的销售额有坚实的可比增长,电子商务销售也加快。 这强化了一种观点,即尽管零售业背景具有挑战性,但Costco的业务执行和客户忠诚度仍然很高。 Break Down Costco的"9月销售报告"Costco报道,截止2026年10月4日的5周净销售额为30.02亿美元,比当年的265.8亿美元增长了13%. 可比总销售额上升了11.4%,反映了整个业务区域的健康需求。 美国的可比销售额增加了12.5%,加拿大增加了6.3%,其他国际市场增加了10.8%。 不包括汽油价格波动和外汇变动的影响,可比销售总额提前7.6%。 由好市多成员驱动的商业模式仍然是关键 竞争力强,高续展率提供了稳定的收入来源,加强了客户的忠诚。 其大宗购买力、强大的供应商关系和高效率的库存管理使零售商能够维持有竞争力的价格。 这种注重价值的做法与有预算意识的消费者相互呼应,他们寻求承受能力和质量,支持一致的需求,加强Costco在竞争性零售环境中的地位。 (Read:Costco's September Supreme Rise 13% on Star Comps, Digital Growth) 解锁Costco's Growth Drivers Costco 继续作为一个令人信服的长期投资机会而显露出来,并得到了其具有弹性的商业模式,强大的客户忠诚和持续的市场分享收益的支持. 仓库零售商注重以有竞争力的价格提供优质商品,这继续吸引店主并鼓励增加支出,即使在不确定的消费环境中也是如此。 其满足有价值意识的家庭和消费者寻求高价产品的能力加强了其竞争地位。 继续扩大其Kirkland签名私人标签投资组合,这比国家 在不损害质量的情况下,品牌强化了好市多的定价优势。 公司成员驱动的商业模式仍然是其长期投资吸引力的基石,提供了可靠的经常性收入来源,并支持客户持续参与。 Costco结束了财政2026年,有8 410万名有薪会员,增长3.8%,而持卡总人数增长3.6%,达到1.504亿. 第四季度会员费收入增长7.3%,达到约18.5亿美元. 世界范围的更新率相继提高了10个基点,达到89.8%,而美国和加拿大的更新率则达到92.3%。 该公司也正在吸引较年轻的消费者,40岁以下的成员现在占其会员基础的四分之一以上。 越来越多地采用Costco的溢价执行成员级,为加强客户参与和增加每个成员的支出提供了有意义的机会。 执行成员的支出一般比Gold Star成员多,续约率更高. Costco结束了2026年的财政,有4 230万名付薪的执行成员,年增长率为9.4%。 这些成员占销售总额的75.6%。 管理层认为 扩大成员、加强行政渗透和增加每个成员的支出,可以维持收入增长。 有针对性的数字通信、增加会员福利和个性化参与举措应进一步加强对客户的忠诚,加强Costco获得更大份额家庭支出的能力。 随着消费者越来越优先考虑便利、更快的实现和无缝购物经验,好市多公司不断扩大的数字能力提供了另一个令人信服的增长途径。 零售商正在通过网站和移动应用改进、个性化产品建议以及扩大与Instacart、DoorDash和Uber Eats的交付伙伴关系,加强其全纳生态系统。 这些举措有助于吸引较年轻的购物者,并抓住传统仓库访问以外的更多购物机会。 数字化带动销售2026年财政突破330亿元,增长20%以上. 管理层表示,第三方交货销售主要是递增的,是对仓库采购的补充而不是替代。 Costco也在探索人工智能驱动产品发现的机会,同时 提高在线产品知名度和客户参与度。 康有为扩大仓库网络和多元化配套企业,进一步增强长期增长前景. 公司结束了财政2026年,全球共有939个仓库,计划在财政2027年开放33个地点,包括5个搬迁地点. 其每年达到大约30个净新仓库的长期雄心壮志,凸显出美国市场和国际区域服务不足的巨大机遇。 除了实体扩张外,Costco公司继续通过汽油、药房和旅行服务扩大其吸引力,这为成员更频繁地接触该品牌提供了令人信服的理由。 管理层计划2027年财政资本支出约75亿美元,主要支持仓库扩建和供应链改善. 这些投资应当加强好市多的经营能力,支持长期的可持续增长.