According to a research note from Wells Fargo, Costco's sales of gold and silver have grown considerably since the retailer announced $100 million in gold sales last year. The company recently expanded its offerings to include silver coins.
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
Costco Gold Sales Silver Sales Wells Fargo Precious Metals
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