Business Notebook
Person

Gary Millerchip

Gary Millerchip has been Executive Vice President and CFO of Costco since March 15, 2024, succeeding Richard Galanti. Before Costco he was Senior Vice President and CFO of The Kroger Co., from April 2019 to February 2024.[1]

Company

  • Costco Wholesale logoCostcoExecutive Vice President and Chief Financial Officer, Costco

Appears in

Key facts

Role
Executive Vice President and Chief Financial Officer, Costco[1]
Executive Vice President since
February 29, 2024[1]
CFO since
March 15, 2024, succeeding Richard Galanti[1]
Before Costco
Senior Vice President and CFO, The Kroger Co., April 2019 to February 2024[1]

What did he say about AI on the Q4 FY2026 call?

  • Traffic to costco.com from AI search grew triple digits for the second quarter in a row and has the highest conversion rate of all site traffic.[2]
  • Sales that originate from searches on the large language models are growing at triple-digit rates, from a low base. He named Gemini, Anthropic and OpenAI.[2]
  • It is AI search more than agentic commerce for now: members use AI as a tool to search for products.[2]
  • Costco does no paid digital advertising, so AI is a neutral environment where its value and quality can show up transparently.[2]
  • Costco's teams are working with the large language models to clean up and update product data and product pages.[2]
  • Personalization grew sales at a triple-digit rate, and 10% of costco.com orders include a personalized item.[2]

Full notes: Costco's Q4 FY2026 earnings call and AI search.

Sources

  1. [1]Costco Wholesale Corporation Announces Richard Galanti Will Step Down as CFO, Names Gary Millerchip New CFO. Costco Wholesale Corporation, February 6, 2024.
  2. [2]Costco (COST) Q4 2026 Earnings Call Transcript. The Motley Fool, September 24, 2026.