Costco May-‘25 Quarterly Results – Comps, Tariffs, and eCommerce


TL;DR: Costco delivered another strong quarter, outperforming peers. It continues to execute on its value proposition of maintaining and growing high member value through smart assortment and merchandising. This strength comes despite eCommerce appearing to remain a secondary initiative for the company.


4 minute read

Costco reported its May-’25 quarterly results yesterday evening, providing insight into its business, consumer behavior, tariff-related operational changes, and its nascent eCommerce business.

Retail leaders doing business with Costco should read on the highlights from Costco’s May-’25 quarter, our reiterated forecast for Costco’s growth potential, insight on how Costco is responding to tariffs, and a summary of its eCommerce performance.

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