Core Insights - Costco Wholesale reported a strong fiscal Q4 with revenue increasing by 8% to $86.16 billion and adjusted earnings per share (EPS) rising by 11% to $5.87, surpassing analyst expectations [5] - Despite operational momentum, Costco's stock has remained flat year-to-date, raising questions about its future performance [1][9] Financial Performance - Fiscal Q4 revenue reached $86.16 billion, an 8% increase year-over-year, while adjusted EPS was $5.87, exceeding the consensus estimate of $5.80 [5] - Same-store sales rose by 6.3% when adjusted for gasoline prices and foreign currency, with U.S. same-store sales climbing 6% and Canadian comparable-store sales increasing by 8.3% [6] - E-commerce revenue surged by 13.5% on an adjusted basis, indicating strong online sales growth [6] Membership and Engagement - Membership-fee revenue increased by 14% year-over-year to $1.72 billion, benefiting from a fee hike implemented last September [8] - Total paid memberships rose by 6.3% to 81 million households, with higher-cost executive memberships increasing by 9.3% to 38.7 million [8] - The company is focusing on improving engagement and renewal rates among younger members through enhanced digital features [4] Operational Strategies - Costco has effectively navigated tariffs by minimizing price increases and leveraging its buying power, while also promoting its Kirkland Signature private-label brand [3] - The average transaction value increased by 2.6% globally and 2.4% in the U.S., with overall traffic rising by 3.7% worldwide [7]