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Costco made $100 million off this golden item alone in most recent quarter — just 2 per customer
This fast-selling item continues to be a goldmine for Costco. The members-only retailer sold a jaw-dropping $100 million worth of one-ounce gold bars in its latest quarter as buyers continue to swoop up the blingy blocks, the company’s CFO Richard Galanti said in an earnings call this week, according to Business Insider. He said patrons were exchanging their dollar bills for gold bars when reportedly asked what consumer trends Costco was seeing this holiday season. He said in an earnings call earlier this fall that gold bars sell out “within a few hours” of appearing on the retail giant’s website. In an ... (full story)