Costco (COST) has had a profitable 2024 as its loyal customer base strengthened in numbers thanks to social media platforms like TikTok, which featured viral posts for the warehouse club nearly every week.
Costco’s popular food court items, striking deals, and “apocalypse” emergency food buckets indeed helped the retailer skyrocket in popularity, allowing it to surpass its main competitors in profits and sales.
🎁 Buy 1 Year and Get 1 Year FREE on TheStreet Pro. Act now before it’s gone ⏰
During the first quarter of fiscal year 2025, Costco’s total revenue increased by roughly 7% year-over-year, while its net sales also spiked by about 7% compared to the same time period last year.
Related: Costco flags an unexpected shift in customer behavior
Even after the warehouse club began cracking down on membership card sharing last year and raised its membership fees in September, it still managed to increase its members by almost 8% year-over-year during the quarter.
Costco’s hours for New Year’s
As the New Year is set to be ushered in on Wednesday, Costco is granting its employees a break from the growing popularity surrounding its stores.
Shutterstock-Ant DM
Costco will be closing its doors on New Year’s Day, however, on New Year’s Eve, most of its stores will remain open until 6 p.m.; hours may vary depending on location.
Shoppers can check out Costco’s warehouse location page to access specific details on the hours their local Costco store will open and close on New Year’s Eve.
How Costco’s New Year’s plans compare to its competitors
Costco’s New Year’s plans mirror one of its main competitors, Sam’s Club (WMT) , which will also be closed on New Year’s Day. However, Sam’s Club will open at 10 a.m. on New Year’s Eve and will close at 6 p.m., a couple of hours earlier than its usual 8 p.m. closing time.
More Retail:
- Dollar Tree issues stern warning about its pricing
- Foot Locker sounds the alarm on a concerning customer behavior
- Amazon accused of concealing a major change to Prime delivery
BJ’s (BJ) , another major Costco rival, plans to take a step in a different direction for New Year’s Eve. BJ’s will open at 8 a.m. on New Year’s Eve and will also open its doors on New Year’s Day at 9 a.m. Closing hours vary depending on location; shoppers can check local club hours here.
Related: The 10 best investing books (according to stock market pros)
