CLAIM #16939 · Costco Wholesale Corp (COST) · 2026Q3 earnings call · May 28, 2026 · due Aug 30, 2026
“we are anticipating further inflation in a number of nonfood categories as higher resin costs start to flow into cost of goods.”
Ron Vachris · CEO
How to check this claim
Look at: Year-over-year inflation rate in nonfood merchandise categories, as reported in company commentary
It came true if: Nonfood inflation reported as higher (increased) in the following quarter versus Q3 level
Where: Management commentary on next earnings call (Q4 call transcript, inflation discussion)
In context
“on to our experienced pharmacists taking great care of our members, a number of factors are contributing to this growth. These include increased GLP-1 demand, and inclusion of Wegovy and Ozempic in our Member Prescription Program, great value on pet medications, acceptance of Medicare D over-the-counter flex cards, and expansion of our mail order and specialty pharmacy offerings. Gas comps were in the positive high twenties,, driven by a price per gallon increase year over year as well as an acceleration in volumes. Turning now to inflation. Overall, inflation increased slightly in Q3, largely because of higher gas prices. This was offset by lower inflation in food and sundries and fresh, primarily due to deflation in produce, eggs, and dairy. Inflation increased slightly in nonfoods, and we are anticipating further inflation in a number of nonfood categories as higher resin costs start to flow into cost of goods. As always, our buyers are working hard to mitigate the impact of cost increases. The supply chain is generally stable, and our merchants feel good about our inventory position heading into the summer. We have relatively low inventory exposure to shipping issues, stemming from the situation in The Middle East. But we continue to monitor the situation closely. In digital, we saw strong member engagement in Q3, with site and app traffic up 37%. Pharmacy, gold and jewelry, home furnishings, tires, special events, housewares, and majors all grew double digits year over year. Delivering a more personalized experience for our members is a key focus, and we continue to make progress in this area. In Q3, our personalized product recommendation carousels delivered conversion rates 3x better than ou”
Verify independently
SEC filings for COST ↗ · Claim quote is verbatim from the 2026Q3 earnings call.