Costco (COST) posted another bulk-sized quarter as consumers look for wallet-friendly prices on everyday essentials.

On Thursday afternoon, the company reported net sales of $58.52 billion, compared to estimates of $57.98 billion. Its adjusted earnings of $3.78 also beat estimates of $3.70.

"We're definitely winning in consumables, as we see the food business and dining away from home has softened up a bit," CEO Ron Vachris, who stepped into the role in January, said on a call with investors.

Same-store sales, excluding fuel, jumped 6.5%, led by its growing international business (up 8.5%), Canada (up 7.4%), and the US (up 6%).

This comes as consumers are looking for value in groceries. In April, grocery prices jumped 1.1% compared to last year but dropped 0.2% compared to March, per the US Bureau of Labor Statistics.

As inflation moderates, consumers are returning to discretionary items "led by toys, tires, lawn and garden, and health and beauty aids," CFO Gary Millerchip said on the call.

Read more: Inflation slowed in April — here’s how that affects your wallet

Costco stock slipped roughly 2% in premarket trading on Friday. As of Thursday, its shares were up 25% year to date, outpacing the S&P 500's (^GSPC) 10% gain, and closed at a record high prior to reporting its fiscal Q3 results.

In the quarter, the wholesale retailer saw foot traffic go up year over year, beating the likes of Sam's Club (WMT) and BJ's Wholesale Club (BJ), according to Placer.ai.

Vachris said Costco won't need to enact wide-ranging price cuts like Target (TGT) and Walmart (WMT) to compete for customers.

"Buyers [for the company] are on top of pricing daily, weekly, and we all review them each month and so we feel very good about where we are today and our runway to continue to be as competitive as we are moving forward," he said.

Costco did reduce prices on some items in its private label brand, like Kirkland Signature pine nuts and Kirkland Signature frozen shrimp skewers.

E-commerce is another bright spot with a 20.7% jump, which Millerchip said was "led by gold and silver bullion, gift cards, and appliances." New app downloads grew 32% to 35 million.

The company also expanded its partnership with Uber Grocery in the US and Canada.

Its logistics business saw deliveries increase 28% year over year. That delivery business competes with Best Buy (BBY) and offers items like televisions, computers, appliances, tires, and even mattresses.

Costco is piloting offering warehouse inventory online, but Vachris said the company intends to preserve its in-store experience.