S&P 500 Consumer Staples Sector SEC Filings — September 24, 2026

Q4 net sales grew 11.2% YoY to $93.9B, accelerating from FY growth of 10.1%, driven by strong comparable sales of 9.4%

Net income per diluted share rose 15.0% YoY to $6.75 in Q4, outpacing revenue growth and indicating operating leverage

Full-year EPS of $20.76 grew 14.0% YoY from $18.21, demonstrating sustained profitability improvement

Operating income increased 13.8% YoY to $3,801M in Q4, faster than revenue growth, signaling margin expansion

Q4 EPS included a non-recurring $0.15 benefit from IEEPA tariff refunds, suggesting underlying EPS of ~$6.60, still up 12.4% YoY

Canada comparable sales of 5.0% and Other International at 7.0% lagged the 9.4% total, indicating geographic divergence [NEUTRAL/BEARISH]

CEO awarded 51.063 phantom stock units at $49.09 (~$2.5K), a routine compensation event with no trading signal

No insider trading activity reported, consistent with stable management conviction

Canada comparable sales grew only 5.0% vs 9.4% total, and 7.0% for Other International, suggesting potential market saturation or competitive pressure outside the US

Q4 benefited from $0.15/share in IEEPA tariff refunds, highlighting ongoing trade policy risk that could reverse if tariffs escalate

While Q4 revenue growth was strong at 11.2%, it represents a slight deceleration from prior quarters' trends, warranting monitoring

No insider buying or selling activity beyond routine compensation, providing no conviction signal from management

Filing lacks any forward-looking statements or guidance, creating uncertainty around future growth trajectory

No mention of dividends, buybacks, or share repurchases, limiting insight into shareholder return priorities

The 4/10 materiality score and neutral sentiment indicate limited actionable information for investors

With 11.2% Q4 revenue growth, Costco significantly outpaces typical consumer staples growth rates, offering a rare growth-at-reasonable-price opportunity

Operating income growing 13.8% YoY vs revenue growth of 11.2% suggests improving operating margins, a positive trend for earnings quality

If Canada and Other International comparable sales can converge toward the 9.4% total, there is significant upside from geographic reacceleration

If tariff refunds become recurring, the $0.15/share benefit could add ~$0.60 annually, representing ~2.9% EPS upside

In an uncertain macro environment, Costco's 10.1% FY revenue growth and 14.0% EPS growth provide a defensive growth profile attractive to risk-averse investors

While routine, the phantom stock award aligns CEO compensation with shareholder value, potentially incentivizing performance

The absence of insider selling despite strong stock performance suggests management sees further upside

Costco's 11.2% Q4 revenue growth highlights the divergence between warehouse retailers and traditional consumer staples companies, with the former benefiting from value-seeking consumer behavior

Costco's Canada (5.0%) and International (7.0%) comparable sales trailing the US (implied >9.4%) suggest that even strong consumer staples companies face regional headwinds from currency, competition, or economic conditions

Costco's 13.8% operating income growth outpacing 11.2% revenue growth underscores the importance of operating leverage in consumer staples, where margin expansion can drive outsized EPS gains

The lack of meaningful insider trading across both filings (only routine compensation at McCormick) limits the ability to gauge management conviction across the sector

Watch for management commentary on Canada and International comparable sales trends, tariff exposure, and any forward guidance on revenue or margins

Monitor Canada and Other International comparable sales in subsequent quarters for signs of reacceleration or further deceleration

Track US trade policy developments regarding IEEPA tariffs, as changes could impact Costco's cost structure and earnings

Watch for any insider buying or selling by CEO Foley Brendan M following the phantom stock award, which could signal conviction

Upcoming quarterly results will provide more substantive data on revenue trends, margins, and guidance

Monitor peer filings for comparable revenue growth and margin trends to contextualize Costco's outperformance

Future filings may reveal dividend increases or buyback programs, which would signal management's confidence in cash flow sustainability