“We Sold Over $100 Million Of Gold During The Quarter”: Costco CFO

Authored by Naveen Athrappully via The Epoch Times,

Wholesale retailer Costco sold more than $100 million worth of gold in the most recent quarter, with gold bars seeing high demand from customers.

“You’ve probably read about the fact that we’re selling one-ounce gold bars. We sold over $100 million of gold during the quarter” ended Sept. 30, Richard Galanti, the chief financial officer of Costco, said during an earnings call on Dec. 14. This was the first quarter of fiscal 2024 at Costco. The wholesale retailer started selling gold online beginning September. In an earnings call late that month, Mr. Galanti had alluded to massive demand for the product.

“When we load them [gold bars] on the site, they’re typically gone within a few hours.”

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