Costco delivered strong fourth-quarter financial results that beat Wall Street expectations, driven by solid membership growth and tariff refunds. In corporate restructuring, People Inc. abandoned its $18 billion bid for MGM Resorts, while Lego, Bentley, and Meta announced major expansion and product initiatives. Diageo also named a new chief financial officer to help guide its multi-year turnaround.
01Earnings
Costco Posts Strong Q3 CY2026 Sales Figures
Costco reported total of $95.72 billion for the fourth quarter of fiscal 2026, topping the $94.85 billion consensus estimate and rising 11.1% from a year earlier. came in at $6.75, beating the $6.53 expected by analysts and exceeding the $5.87 reported in the same period last year. Net sales for the 16-week quarter reached $93.87 billion, up from $84.4 billion in the prior-year period. Comparable sales grew 9.4% on a reported basis, while adjusted comparable sales excluding gas and rose 6.7%. The quarter included a $184 million refund, part of which management directed toward lowering member prices. Non-food categories performed strongest during the period, helped by demand for discretionary items. Digitally enabled sales grew 19.5% year-over-year, and total warehouse count reached 939 locations worldwide. Costco enters fiscal 2027 planning to open 30 new warehouses per year, targeting international expansion in markets such as Asia.
Costco Wholesale Reports Q4 and Full-Year Fiscal 2026 Results
Costco Wholesale Corporation reported fourth-quarter of $2.998 billion, or $6.75 per diluted share, as sales rose 11.2% to $93.87 billion for the 16 weeks ended August 30, 2026. Net income for the same period a year earlier was $2.610 billion, or $5.87 per diluted share, on net sales of $84.43 billion. The fourth-quarter results included a nonrecurring benefit of $0.15 per diluted share from refunds under the International Emergency Economic Powers Act, net of partial reinvestment in lower prices for members. Excluding that benefit, net income increased 12.3% and diluted rose 12.4%. For the full fiscal year, net sales increased 10.1% to $297.2 billion from $269.9 billion, while net income reached $9.226 billion, or $20.76 per diluted share, compared to $8.099 billion, or $18.21 per diluted share, in the prior fiscal year. Comparable sales for the fourth quarter rose 9.4%, or 6.7% after adjusting for gasoline-price and . Digitally enabled comparable sales increased 19.5% in the quarter and 20.9% for the full fiscal year. Membership-fee income rose 7.3% to $1.849 billion, driven by higher executive membership penetration and growth in the membership base. Paid executive members reached 42.3 million, up 9.4% from a year earlier, while total paid members reached 84.1 million. The U.S. and Canada renewal rate was 92.3%, and the worldwide renewal rate was 89.8%. expenditures totaled $2.21 billion in the fourth quarter and $6.4 billion for the fiscal year, with Costco expecting approximately $7.5 billion in capital expenditures in fiscal 2027. The company opened 28 warehouses during the fiscal year to bring its global total to 939 locations, and plans to open 33 warehouses during fiscal 2027.
Net Sales by Period ($B)
Net sales rose 11.2% in Q4 and 10.1% for the full fiscal year.
Barry Diller drops $18 billion MGM Resorts takeover plan
People Inc. has withdrawn its takeover proposal for MGM Resorts International, sending shares of the casino operator down 9% on Thursday. Barry Diller's media company, formerly known as IAC, had previously offered to buy MGM Resorts in a deal valued at $18 billion, or $48.30 per share. People Inc. already holds a 26.1% to 27% stake in MGM through 66.8 million shares. Diller attributed the decision to the complicated nature of the transaction and the significant load it would have created. The abandoned take-private plan leaves MGM to continue as a standalone company led by CEO Bill Hornbuckle and board chairman Paul Salem.
Lego to Spend $400 Million Expanding Mexico Manufacturing Facility
The Lego Group will invest over $400 million to expand its manufacturing facility in Monterrey, Mexico, adding packing and warehousing capabilities while creating 1,300 jobs. Construction on the project is scheduled to begin in early 2027 and finish by 2029. The investment adds more than 667,000 square feet, or 62,000 square meters, of space to the site, which currently employs 7,300 workers. The expansion increases total production capacity at the plant by 35% and includes a fully-automated high-bay warehouse. Upon completion, the facility will span 210,080 square meters on 87 hectares. The Monterrey site serves customers across the Americas and operates alongside a separate packaging and warehousing project announced in 2023 that added 59,000 square meters and 900 jobs earlier this year. Lego is separately investing more than $1.5 billion to build a factory and regional distribution center in Chesterfield, Virginia, with both facilities on track to open in 2027. The Mexican expansion follows first-half 2026 results where grew 26% and consumer sales rose 22%, outpacing the broader global toy market growth of 14% reported by Circana for the same period.
Meta Expected to Unveil Camera-Free Smart Glasses Amid Privacy Concerns
Meta Platforms introduced the Muse Charm, a pocket-sized hardware interface for its Muse agent, during its annual Meta Connect conference. Chief Executive Mark Zuckerberg said the company has shifted its strategic focus toward personal superintelligence after artificial intelligence progress outpaced the hardware timeline required for his original metaverse vision. The Tamagotchi-style device features a 2-inch OLED touchscreen, front and rear cameras, speakers, microphones, and built-in 5G connectivity, and is scheduled to ship in December ahead of the holiday season. Meta did not disclose pricing for the Charm device. The Muse AI agent, which debuted on September 8 and quickly reached the top of Apple's App Store and Google Play Store, will be integrated into the new hardware. Meta plans to Muse by taking a small fee from transactions completed through the agent, which currently integrates with partners including PayPal, Walmart, Best Buy, Gap, Sephora, Wayfair, American Eagle, Expedia, and Instacart. Alongside the handheld device, Meta announced a virtual reality headset priced at $1,299.99 slated for release in spring 2027, alongside an expansion of its smart-glasses lineup to more than 100 styles by the end of the year. Meta shares closed at $736.60 on September 22, 2026, up 33 percent over the prior month as analysts raised price targets following the initial adoption of the Muse platform.
Meta Price Target Range ($)
The average price target sits 4.06 percent above the recent close.
bbc.co.uk reports that Bentley has unveiled its first fully electric car, the Torcal SUV, following a £350m factory upgrade in Cheshire. The production line will be housed at the company's headquarters in Crewe, supporting 4,000 local jobs. The vehicle is equipped with a 113kWh battery that delivers a range of up to 375 miles, and it supports rapid charging from 10% to 80% in under 20 minutes via a 400kW charger. The standard model reaches a top speed of 155mph and accelerates to 60mph in 3.3 seconds. Meanwhile, the Torcal S variant serves as the brand's most powerful car to date, achieving a top speed of 162mph and a 0 to 60mph time of 2.8 seconds. The investment arrives as the wider UK motor industry contends with headwinds and localized job cuts.
Torcal Performance Metrics (count)
The Torcal S reaches 60mph in 2.8 seconds with a top speed of 162mph.
Diageo named WPP chief financial officer Joanne Wilson to replace Nik Jhangiani some time in 2027. Jhangiani joined the owner of Smirnoff, Guinness, and Johnnie Walker in 2024 and served as interim chief executive from July to December of last year. Chief Executive Officer Sir Dave Lewis cited Wilson's background in corporate restructuring as key to accelerating the liquor giant's turnaround. For the fiscal year 2026 ended June 30, Diageo reported that net profit fell 22.9% to $1.9 billion as the company incurred $900 million in restructuring charges. The London-based company also expects to realize $850 million in savings over a two-year period starting in fiscal 2027. Wilson joins from advertising agency WPP, where she managed restructuring costs and sales. Her prior experience includes senior finance roles at drinks company Britvic and grocer Tesco. Jhangiani will remain with the company until Wilson arrives next year.
Major capital commitments and strategic corporate reshuffles show consumer brands investing heavily in production and leadership. The key question is whether heavy manufacturing investments by Lego and Bentley will offset broader sector volatility and abandoned mega-deals.
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