Gold bars sold by Costco said to bring in $200M a month for company
Newsy
The members-only warehouse retail giant sells 1-ounce gold bars exclusively online with a limit per member, according to a report last year.
Analysts say Costco's interesting and innovative initiative selling 1-ounce gold bars to its members has been a success in the months since its launch last year.
A research equity note released by analysts at Wells Fargo has reportedly found that the company is bringing in as much as $200 million a month since the debut of the exclusive online sales of the precious metal bars in 2023.
As MarketWatch reported, the analysts said the gold sales appear to be boosting same-store sales by around 1%.
AP Photo/Richard Drew
In October, the company found that customers were buying out the pure 24-karat gold bars faster than its discounted 170-ounce jugs of laundry detergent, The Associated Press reported.
