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Fitz-Gerald Group Chairman Keith Fitz-Gerald highlights shares of Costco, Palantir and Lockheed Martin ahead of the market open.
Costco sold a reservation for a round-the-world cruise for $293,000 through Costco Travel.
That revelation came Thursday when Chief Financial Officer Gary Millerchip provided some “fun facts” about Costco’s members-only ride service during the warehouse retailer’s first-quarter earnings call.
“Our largest cruise booking last year was a 150-day round-the-world cruise that departed from Fort Lauderdale and made stops in places like the Galapagos and the Easter Islands,” he told analysts and investors.
Costco sold a round-the-world cruise for $293,000. (Justin Sullivan/Getty Images/Getty Images)
The six-figure price tag reserved the owner’s suite cabin on the boat for two people, according to Costco’s chief financial officer.
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“The total price was $293,000 for two people in the Owner’s Suite cabin and added values in the booking included a $13,000 onboard credit and the Costco Shop Card worth $25,000,” he said.
The chief financial officer did not specify which cruise line was operating the long vacation.
“We offer a wide range of vacation packages, car rentals, cruises, hotels, flights and other travel-related services,” Millerchip said on the earnings conference call. “In addition to very attractive rates, many of our offers include a Costco Shop Card as an additional value for booking with Costco.”
Costco members can take advantage of Costco Travel for their travel and vacation needs. (Marlene Awaad/Bloomberg via Getty Images/Getty Images)
Consumers can use Costco Shop Cards to pay for a membership to the warehouse retailer and the various items Costco sells.
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Millerchip also noted during the call that members who take advantage of Costco Travel “spend approximately twice as much as members who do not use these services.”
Costco Travel also scored a surprising number of car rentals last year.
A Costco store in Bayonne, New Jersey, on Saturday, December 9, 2023. (Angus Mordant/Bloomberg via Getty Images/Getty Images)
“Last year, we sold enough rental cars to fill every Costco parking spot in the US 8.5 times over,” the CFO reported.
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Costco’s U.S. presence spanned more than 600 locations at the end of the first quarter. There are also more than 270 locations in other countries.
| Heart | Security | Last | Change | Change % |
|---|---|---|---|---|
| COST | COSTCO CORP. | 971.88 | +10.33 |
+1.07% |
The warehouse retailer generated $62.15 billion in revenue in its first quarter. About $60.98 billion of that amount came from net sales, while membership dues accounted for about $1.17 billion.
According to Costco, about 138.8 million people have Costco membership cards.
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