Costco sold $100 million in gold bars this quarter, sells out ‘in a few hours’
NY Post
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.
Galanti has previously told investors that gold bars were a big hit.
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 effort to keep the gold in stock, Costco members are only allowed to purchase two bars each and can only buy them online — but the buying frenzy hasn’t shown any signs of slowing.
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