Costco第一财季营收超预期增长8.2%，线上销售额飙升20%

Core Viewpoint - Costco's first-quarter performance exceeded Wall Street expectations, driven by online sales growth and new store openings, with revenue increasing by 8.2% year-over-year [1][5]. Revenue Growth - The company reported first-quarter revenue of $67.31 billion, an 8.2% increase compared to the previous year, surpassing Wall Street forecasts [5][7]. - Comparable sales growth was 6.4%, with the U.S. market contributing 5.9%, indicating a focus on value rather than a significant increase in consumer spending power [6]. Profitability - Quarterly profit growth exceeded expectations, with net income reaching $2 billion, an 11% year-over-year increase [7]. - Earnings per share were reported at $4.50, also above Wall Street estimates [7]. E-commerce Performance - E-commerce sales surged by 20.5%, with website traffic increasing by 24% and app traffic skyrocketing by 48%, indicating successful online transformation [7][8]. - Black Friday saw record non-food orders exceeding $250 million, showcasing strong performance during the holiday shopping season [10]. Membership Expansion - Paid membership increased to 81.4 million, a 5.2% year-over-year rise, with a renewal rate of 92.2% in the U.S. and Canada [7][10]. - Membership fee increases implemented in September began contributing to profits [6][7]. Store Expansion Plans - The company opened 8 new warehouse stores in the first quarter, bringing the global total to 921, with plans to open over 30 new stores annually [7][16]. - This aggressive expansion strategy is seen as essential for maintaining growth in a cautious retail environment [16]. Cost Management and Challenges - Approximately one-third of U.S. sales come from imported goods, leading to challenges due to rising tariffs [11]. - The company is actively seeking ways to mitigate tariff impacts, including increasing domestic sourcing and adjusting product categories [11][12]. - The CEO emphasized the importance of the Kirkland Signature private label in managing supply chain costs [12].