Core Insights - Costco's stock fell over 2% following fourth quarter results that showed US same-store sales slightly below forecasts, amid a challenging consumer environment and competition from Walmart's Sam's Club [1] Financial Performance - Costco's revenue reached $86.16 billion, surpassing expectations of $86.03 billion, while adjusted earnings per share were $5.87, exceeding the forecast of $5.82 [2] - For fiscal year 2025, Costco reported annual revenue of $275.24 billion and adjusted earnings per share of $18.21, higher than the estimated $18.10 [4] Sales Growth - Same-store sales grew by 6.4%, slightly above the expected 6.2%, with US same-store sales increasing by 6%, just below the 6.1% forecast [3] - Canadian same-store sales grew by 8.3%, exceeding the predicted 6.8%, while international sales were up 7.2%, matching estimates [3] Consumer Behavior - CFO Gary Millerchip emphasized the importance of "everyday value items" during economic uncertainty, noting that customers are selective with discretionary spending [5] - Popular items included hot dog combos, rotisserie chickens, and Kirkland Signature bath tissue, with over 245 million hot dog combos sold in fiscal year 2025 [6] Membership and Competition - Membership fee income increased by 14% year-over-year to $1.72 billion, with a 6.1% rise in cardholders [7] - CEO Ron Vachris acknowledged the awareness of new competition in the market and the need to monitor it closely [8]