Core Insights - Costco Wholesale has achieved a total return of 733% over the past decade, making it the third-largest retailer globally, following Walmart and Amazon [1] Group 1: Financial Performance - In the fiscal 2025 third quarter, Costco reported net sales of $62 billion, showcasing its significant market presence [1][3] Group 2: Competitive Advantage - Costco's business model involves selling a limited number of stock-keeping units (SKUs), averaging around 4,000, compared to the 30,000 typically found in supermarkets, allowing for high volume sales of fewer products [3] - The company's scale provides a powerful cost advantage, enabling it to negotiate better terms with suppliers and pass on savings to customers [4] Group 3: Customer Engagement - Memberships at Costco have increased by 6.8% year-over-year in Q3, with a high renewal rate of 90.2%, indicating strong customer loyalty [4] Group 4: Investment Considerations - Despite Costco's strong performance and growth potential, the current price-to-earnings ratio stands at 54.2, suggesting that it may not be the right time to purchase shares [5]