(Reuters] – Costco Wholesale Corp. (NASDAQ:) has beat Wall Street expectations for fourth quarter revenue. The strong consumer spending on fresh food, home furniture, and fuel products, despite rising inflation, boosted Costco Wholesale Corp’s quarterly revenues.

Costco’s average Costco shopper spends more than the typical Walmart customer (NYSE:) Target Customer (NYSE:), and warehouse club operator’s attempts to maintain gas prices at a few cents lower than the national average have driven the growth of memberships.

Revenue from subscriptions rose from $901 million to $984 million last year to reach $984 million this quarter.

These results are coming at a moment when Walmart’s revenue is falling due to inflation impacting consumer spending.

According to IBES data compiled by Refinitiv.com, total revenues for the membership-only chain rose to $52.60billion from $45.28billion one year earlier. Analysts had expected $51.71 billion.

However, the shares of this warehouse club operator dropped by about 2% during extended trading.