Stocks ended the week on a bullish note as Costco reported beating earnings and revenue estimates for its fiscal third quarter. The retail giant saw an increase in shoppers visiting its stores, leading to a surge in its stock price near a buy point on Friday.

Costco’s new CFO, Gary Millerchip, and CEO, Ron Vachris, addressed investors in their first earnings call, emphasizing transparency in the company’s performance. Analysts noted a focus on enhancing digital capabilities and utilizing membership data for personalization and retail media.

One of Costco’s successful online ventures has been the sale of gold and silver bars and coins, which are popular choices for investors seeking a hedge against inflation. The company’s e-commerce sales saw a significant increase of 20.7% in the third quarter, with strong demand for bullion, gift cards, and appliances.

Analysts had predicted a 26% rebound in earnings per share (EPS) to $3.70 and an 8% revenue growth to $58.023 billion for Costco. However, the actual results surpassed expectations, with EPS reaching $3.78, a 29% increase, and revenue climbing to $58.515 billion.

Looking ahead, analysts forecast a 14% growth in Costco’s earnings for the full fiscal year, ending in August, with sales expected to rise by nearly 5%. Despite a slight decline in Costco’s stock on the market, the company’s performance remains strong, with shares nearing a significant buy point.

In the retail sector, other discounters like Walmart have also seen positive results recently, with Walmart stock experiencing a breakaway gap following strong earnings and outlook. As Costco and other retailers continue to adapt to changing consumer behaviors, the focus on digital innovation and personalized experiences is expected to drive growth in the industry.