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Costco logs another strong month of sales in September

Yahoo Finance Live anchors discuss Costco's continued sales momentum even as gas prices decline.

Video transcript

[AUDIO LOGO]

[MUSIC PLAYING]

BRAD SMITH: [INAUDIBLE] the base. Time for Cut for Time, three stories, one minute each. We start with this today.

People still want their Costco hot dogs and bulk groceries despite rising prices. Costco reported another strong month of sales for September, with net sales up 80-- or 8.5%--

JULIE HYMAN: 8 and 1/2%

BRAD SMITH: 8 and 1/2% year-over-year. This despite same-store sales dipping on lower gas prices. All right, that you're taking a look at some of the comps up 8 and 1/2% year-over-year for Costco.

JULIE HYMAN: Wow.

BRAD SMITH: Yeah.

JULIE HYMAN: People still want-- you love it. You like rave about these hot dogs.

BRIAN SOZZI: I will refrain from saying something funny on the hot dog. And I'll say this, it was good to see prices decelerate in September versus August. So another little sign that inflation in a lot of these everyday categories at a Costco grocery store, you name it, is starting to roll over a little bit. And that's a good thing I think for consumer spending into the holidays.

JULIE HYMAN: I will say, I think they recently said that they're not going to raise their membership price yet. You were predicting one that was--

BRIAN SOZZI: It's coming.

JULIE HYMAN: --maybe coming.

BRIAN SOZZI: It's coming next year.

JULIE HYMAN: It is.

BRIAN SOZZI: Absolutely

JULIE HYMAN: Yes, yes.

BRAD SMITH: And the gold, or the--

JULIE HYMAN: It sounds like it's not coming this year.

BRAD SMITH: What do you mean?

BRIAN SOZZI: They wait till the last minute but it's gonna be a big earnings driver for that company.

BRAD SMITH: Yeah. And I mean, comparatively Costco, BJ's Sam's Club, underneath of Walmart, all of them had been trying to cozy up to the consumer, especially in the bulk-buying boom that we've seen.

[BUZZER BUZZING]

BRIAN SOZZI: Indeed.