Costco, $COST, made $100 million off this golden item alone in most recent quarter

Costco, $COST, made $100 million off this golden item alone in most recent quarter.

During a recent discussion, Richard Galanti, Costco's Chief Financial Officer, highlighted the retail giant's sale of 1-ounce gold bars, reaching over $100 million in sales during the quarter. Galanti briefly mentioned some of the intriguing items, including gold bars, categorized as "fun wow items," which Costco featured on its website.

These items experienced high demand, often selling out within hours after being listed. Additionally, Galanti shared a noteworthy detail about Thanksgiving pie sales, revealing that Costco members purchased over 4 million pies in the three days leading up to the holiday. The pies included 2.9 million pumpkin pies and 1.3 million apple and pecan pies.

In the first quarter, Costco reported a year-over-year revenue increase of over 6%, totaling $57.8 billion, with a net income of $1.59 billion. Costco is preparing for a leadership transition, with Ron Vachris set to take over as CEO in January, following a long-standing succession plan discussed with current CEO Craig Jelinek and the board in October.