Costco Wholesale stock holds near recent highs as Costco Next program is shut down

Costco Wholesale stock is trading close to its recent highs as of September 2, 2026, while the retailer surprises members by shutting down its Costco Next partner program and continues to grow earnings and expand its store network.

Costco Wholesale stock (ISIN US22160K1051) is trading around 945.49 USD as of September 1, 2026, keeping the warehouse retailer near its recent highs while investors digest both steady earnings momentum and the company's decision to discontinue its Costco Next partner program, according to market data compiled by GuruFocus.

Costco Next program discontinued

On September 2, 2026, reports highlighted that Costco has shut down its Costco Next service without prior notice, ending a program that allowed members to buy selected partner brands at discounts through a dedicated online storefront, as described by a Yahoo Finance report.

According to this report on September 2, 2026, Costco informed customers that access to Costco Next storefronts is no longer available and that members should now contact the listed vendors directly for eligible returns and warranty questions, indicating a shift toward letting brand partners handle post sale support themselves.

Valuation and earnings backdrop

Despite the program change, market data show that Costco Wholesale stock is valued at about 945.49 USD per share as of September 1, 2026, with an intrinsic value estimate of 1,037.31 USD based on the proprietary GF Value metric, implying the shares trade approximately 8.9 percent below this fair value estimate according to GuruFocus.

The same analysis notes that at this price level Costco carries a trailing price to earnings multiple of around 47.55, a valuation that underlines how investors are willing to pay a premium compared with many retailers for Costco's consistent earnings and cash flow profile, as seen in the market snapshot aggregated by GuruFocus.

Store expansion continues

While Costco Next disappears, Costco continues to add new warehouses to its network, with a September 2, 2026 report stating that four new stores are scheduled to open in October as part of the retailer's ongoing expansion strategy in North America, according to coverage by Fox Los Angeles.

For long term investors this combination of a premium share price, a valuation that some analyses still consider to be about 8.9 percent below estimated intrinsic value and a steady pipeline of new warehouse openings underpins the narrative that Costco's growth trajectory is supported by both rising sales volumes and membership fee income.

Membership model and key product focus

Costco Wholesale operates a membership based warehouse model where customers pay annual fees to access bulk pricing on groceries, household items and discretionary goods, with a significant share of revenue and profit tied to membership renewals and add on services such as gasoline and travel packages.

Among its many private label and branded products, Costco's Kirkland Signature line has become a standout portfolio for the retailer, spanning categories from food to household essentials and helping Costco differentiate itself from traditional supermarkets and online retailers by offering large pack sizes and competitive unit pricing.

Costco Wholesale stock price and trading venue

As of September 1, 2026, Costco Wholesale stock is quoted at about 945.49 USD per share on the Nasdaq under the ticker symbol COST, with this level placing the shares near the upper end of their recent trading range as indicated by market data summarized by GuruFocus.

Costco Wholesale key data

• Company: Costco Wholesale Corporation
• ISIN: US22160K1051
• Ticker: COST
• Trading venue: NASDAQ
• Price (as of September 1, 2026): 945.49 USD
• Sector / Industry: Consumer Staples / Food and Staples Retailing
• Index membership: S and P 500