With inflation continuing to be a thorn in most retailers’ sides, you might be surprised to learn that one retailer is posting accelerating growth.

Costco Wholesale has been performing greatly since the start of the pandemic. In comparison to its rivals, Costco’s sales have increased at an incredible rate.

Once again demonstrates that in tough times, they perform best.

Inflation who?

Costco had been showing mid to high single-digit year-over-year sales growth in a normal quarter before the pandemic.

But after that shot up to double digits, the hysteria at the begging of the pandemic causing a shortage of essentials only strengthened Costco sales.

Costco continued that trend with a 16% sales increases from the prior-year period to $51 billion, including a 17% increase in U.S. comparative-store sales.

Although Costco sells everything from milk and bread to jewelry and vacation packages, most of its sales come from essentials. Consumers generally spend money on these products even in an inflationary environment when they might cut back on almost anything else.

Despite a slight decline in margins, earnings per share increased from $2.75 last year to $3.05 this year.

For many years, Costco has outperformed the S&P 500. Despite falling along with the price, stock valuations are climbing back up, and the shares aren’t cheap. Currently, they trade at a price-to-earnings ratio of 39.

But when prices are rising, they want to get the most bang for their buck, leading them to Costco’s warehouses.

It’s a no-brainer stock to own, as Costco provides your portfolio years of growth and stability.