Reuters
Costco Wholesale beat third-quarter revenue expectations on Thursday, as cash-strapped consumers flocked to its warehouses to grab low-priced discretionary items and groceries. The membership-only retailer saw strong momentum for its fresh foods and bakery items including newly added products lemon blueberry loaf and morning buns, and chocolate chop cookie as consumers grappling with still-high cost of living preferred cooking more meals at home. "As inflation has leveled off, members are returning to purchasing more discretionary items, with growth led by toys, furnishing, lawn and garden supplies as well as health and beauty aids products," CFO Gary Millerchip said on a post-earnings call.