Costco Wholesale got into precious metals sales last year with gold bars and, according to a Tuesday research note from Wells Fargo, those may have picked up quite a bit since then.
In the note, Wells Fargo equity analyst Edward Kelly wrote Costco’s sales of gold and silver "seem to have grown considerably" since then-CFO Richard Galanti announced in mid-December the retailer had "sold over $100 million of gold during the quarter.
In the second quarter, the company generated $58.44 billion in total revenue. Its net income, meanwhile, came in at $1.74 billion. Its footprint of warehouses includes 875 locations around the world. READ MORE FROM FOX BUSINESS
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