costco (COST) has had a profitable 2024 as its loyal customer base grew stronger thanks to social media platforms like TikTok, which featured viral posts for the warehouse club almost every week.
Costco's popular food court items, surprising deals, and “apocalyptic” emergency food buckets actually helped the retailer skyrocket in popularity, allowing it to surpass its major competitors in profits and sales.
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During the first quarter of fiscal 2025, Costco's total revenue increased approximately 7% year over year, while its net sales also increased approximately 7% compared to the same period last year.
Related: Costco notes unexpected change in customer behavior
Even after the warehouse club began cracking down on membership card trading last year and raised its membership fees in September, it managed to grow its membership by nearly 8% year over year during the quarter.
Costco hours for New Year's
As the New Year begins on Wednesday, Costco is giving its employees a break from the growing popularity surrounding its stores.
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Costco will close its doors on New Year's Day, however, on New Year's Eve most of its stores will remain open until 6 pm; Hours may vary by location.
Shoppers can visit the Costco warehouse location page to access specific details about the opening and closing times of your local Costco store on New Year's Eve.
How Costco's New Year's Plans Compare to Its Competitors
Costco's New Year's plans mirror those of one of its main competitors, Sam's Club (WMT) which will also be closed on New Year's Day. However, Sam's Club will open at 10am on New Year's Eve and close at 6pm, a couple of hours earlier than its usual 8pm closing time.
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B.J. (bj) another major Costco rival, plans to take a step in a different direction for New Year's Eve. BJ's will open at 8am on New Year's Eve and will also open its doors on New Year's Day at 9am. Closing times vary by location; buyers can check the local club schedule here.
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