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Costco’s Kirkland Signature line has built a reputation for quality, and that reputation extends to its alcoholic offerings.

Its offerings include a wide array of wines.

“Selections are uniformly excellent across price points, regions, and categories, but Kirkland brand table wines are some of the best bottles you can get at retail, bar none,” Danielle Callegari, a Wine Enthusiast writer-at-large, said.

Costco’s liquor assortment has been similarly celebrated.

“If you live in one of the states that allows Costco to sell its Kirkland Signature booze, consider yourself lucky, because spirits experts say the store-brand spirits are dead ringers for the top-shelf stuff — and they’re usually 20 to 40% cheaper,” The Ktchn shared.

Costco partners with well-known brands, which are often not named, to make their wine, spirits, and, until recently, beer.

Now, however, its last remaining beer partner has stopped producing the final two Kirkland Signature beers. Production ended in July, and many warehouses have depleted their stock, which was expected to run out by October.

Costco ended its beer partnership

Costco has ended a co-branded partnership with Oregon’s Deschutes Brewery that launched in December 2024. The brewery made Kirkland Signature Helles-Style Lager and Kirkland Signature Vintage Ale for the retailer.

Costco Wine Blog, which is not affiliated with the retailer, reviewed the Kirkland Signature Helles-Style Lager when it was released.

“The beer is a pale gold in the glass; it is slightly sweet, lightly hopped, malty and yeasty, well made with a great body to it, and has a nice crisp finish,” the site reported.

It was also sold for $13.99 per 12-pack, not much more than $1 per can.

On a price basis, Kirkland Signature Helles-Style Lager has been described as a premium beer at Budweiser prices.

My local Target sells a Budweiser 12-pack for $13.99 while the nearest Total Wine & More charges $14.99.

Guru of Brew reviewed the Kirkland Signature Vintage Ale.

“Aged for nine months in a mix of bourbon barrels. This robust imperial stout was meticulously crafted by Deschutes Brewery in Bend, Oregon, with notes of dark chocolate and roasted coffee,” the site shared.

Kirkland Signature Vintage Ale sells for $7.99 a bottle, as it was meant to be a higher-end product.

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Now, production has ended on both beers, and searches for both on Costco’s website, using multiple zip codes from states around the country, show the products as not just out of stock but not listed at all.

That does not mean that the beer has fully sold out, since although production ended in July, stock was expected to last into September.

Some Costco warehouses may still have the beers in stock.Shutterstock

Costco has ended Kirkland Signature beer production

Costco did not make a statement on the end of the partnership.

Deschutes Brewery, however, confirmed to Fox Business that its program with Costco is coming to an end.

“We’re so grateful for Costco’s trust in Deschutes to bring our award-winning beer to their members at such a great value,” the company said. “We’ve reached the end of our volume commitment and, therefore, the program is winding down. We’ve been overwhelmed by the outpouring of support for the beer from Costco members since the announcement. The feedback on the beer has been exceptional, and it’s clear that the beer has built a fanbase across the U.S. and internationally.”

These were the only two remaining Kirkland Signature beers, so when the stock sells out, Costco will no longer offer a private-label beer.

The World Beer Cup awarded Kirkland Signature Helles Lager silver and bronze medals in 2025 and 2026, respectively, according to OverProof.com.

Related: History of Costco: Company timeline and facts

Kirkland Signature is big business for Costco

Costco locations do not have liquor stores here in Southern Florida, but when living in other states, I have often purchased Kirkland Signature bourbon and scotch.

The warehouse club did not disclose who made their liquors, but as a fan and a bit of an aficionado who has been lucky enough to cover the liquor industry for around 30 years, these products compared favorably to everyday brands such as Jack Daniel’s or Knob Creek, at much lower prices.

None of the chain’s spirits that I tried would count as top-shelf, but they were highly drinkable and very good values.

That’s essentially how Kirkland Signature operates across all categories, and it’s hard to understate just how important the house brand is to Costco.

Costco reported total sales of $269.9 billion in its 2025 annual report, with $90 billion, roughly a third, coming from Kirkland Signature.

RTM Nexus CEO Dominick Miserandino shared that it’s not unusual for Costco to discontinue a Kirkland Signature item.

“It’s simply an economics of space. The average retailer could have 10,000 to 15,000 SKUs, but Costco could have 3,500 to 4,000,” he told TheStreet. That’s a significant difference (and a Walmart or Target could have two to three times that many products). So, yes, they’re going to be most efficient and only stock the shelves with what they think will sell.”

Costco has not commented on whether it plans to introduce a new Kirkland Signature beer at a later date

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On Lisa Su’s first day as chief executive in October 2014, a share of Advanced Micro Devices (AMD) cost just over $3, according to CNBC. That was about the price of a latte. By year end, the whole company was worth roughly $2 billion, the same report found.

On Monday, September 21, 2026, AMD crossed $1 trillion in market value as its stock rose for a fifth straight session, CNBC reported. It finally joined the trillion-dollar club.

The trigger was not a new chip or a new customer. Shares jumped 9.17% in morning trading on reports of a 10% price increase on some AI accelerators and GPUs.

That is unusual for a challenger. Challengers usually cut prices to win share from the leader. AMD is doing the opposite, a sign that buyers now pay for access.

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The rally also lifted the stock past its previous $584.73 high, according to FinanceFeeds, and above $600 for the first time. That matters because OpenAI and Meta Platforms (META) hold warrants for up to 320 million AMD shares, with final tranches tied to $600, the analysis found.

The milestone and the payout line now sit side by side.

AMD stock more than tripled in a year

AMD designs the processors inside PCs, game consoles and, increasingly, AI data centers. Reuters regards it as Nvidia’s (NVDA) closest rival in graphics processors. That makes the stock a popular bet on AI spending spreading beyond one supplier.

The shares were already up about 3% before the opening bell on Monday, according to Benzinga. The same report put the gain over the past year near 250%, the earnings multiple near 143 and the average analyst price target at $604.

The stock now trades above it, leaving analysts to catch up.

Nvidia’s data center unit booked $89 billion in its latest quarter, roughly 13 times AMD’s, according to Nvidia’s earnings release. Yet Nvidia’s $5.37 trillion market value is only about five times AMD’s, according to StockAnalysis.

Investors are pricing AMD on the share it could win, not the share it holds.

AMD crossed $1 trillion on September 21, 2026, as reports of a 10% AI chip price increase pushed its stock above $600 for the first time.Bloomberg / Getty Images

AMD is raising prices instead of cutting them

AMD has notified partners of a roughly 10% fourth quarter price increase, Digital Trends reported, citing supply chain outlet ChannelGate. It names AI accelerators, consumer GPUs and chipsets, citing a similar rise in foundry prices at Taiwan Semiconductor Manufacturing (TSM).

AMD has not confirmed the report, which Stocktwits described as unverified.

Buyers are paying anyway. Cloud operator Nebius Group (NBIS) will raise rental rates on AMD’s EPYC server chips by 25%, versus 17% to 21% for Nvidia GPUs, according to The Motley Fool.

Piper Sandler said 2027 AI capacity is already sold out, Benzinga reported. Because the increase largely passes along foundry costs, the signal is less about margins and more about who holds leverage.

Earnings back that up. Second quarter revenue rose 50% to $11.54 billion, and data center revenue more than doubled to $6.72 billion, AMD reported.

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AMD’s biggest buyers hold warrants tied to $600

In October 2025, AMD granted OpenAI a warrant for up to 160 million shares at $0.01 each, according to an SEC filing.

AMD repeated the structure in February 2026, when Meta agreed to deploy 6 gigawatts of AMD gear, Bloomberg reported. Both warrants escalate to $600 for their last tranches, according to AMD’s filings.

The final OpenAI tranche needs roughly a $1 trillion market value to vest, UBS analyst Timothy Arcuri wrote in a note cited by TechCrunch. Benzinga puts that line near $613 a share on AMD’s reported count. At that price, the 320 million warrant shares would be worth about $196 billion.

Counting those warrants changes the picture:

Full vesting requires OpenAI and Meta to each buy 6 gigawatts of AMD chips, according to the filings.

About $1.09 trillion was AMD’s value at its $559.82 close on Friday, September 18, 2026, with both warrants included, according to FinanceFeeds.

Roughly 19.6% more shares would exist if both warrants fully vest, the analysis added.

Chipmakers now help finance their own buyers

AMD and Nvidia both back their buyers financially, a pattern Fortune has tied to circular financing fears. Nvidia has weighed guaranteeing $250 billion for an OpenAI data center project, Axios reported.

AMD committed up to $5 billion to Anthropic, CNBC reported, but its bigger currency is its own stock. Nvidia shareholders carry the credit risk, while AMD shareholders carry the dilution.

Memory maker Micron Technology (MU) reached $1 trillion in May 2026, before AMD did, according to The Motley Fool. Investors paid first for bottlenecks, and AMD’s price increase suggests it has become one.

AMD’s next report, due November 3, 2026, will show whether the first gigawatts are shipping.

The chip race once turned on who built the fastest chip. It now also turns on pricing power and how much equity a supplier will trade for demand.

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Tariffs raised costs for some of America’s biggest retailers over the past year.

That put pressure on companies to raise prices, negotiate with suppliers, or, in some cases, absorb more of the expense themselves.

Consumers ultimately felt at least part of that pressure.

Federal Reserve researchers found that tariff-related price increases occurred gradually through 2025 rather than in a single sudden jump.

Prices for goods imported from China were about 8.5% higher in December 2025 than a year earlier. Researchers estimated that at least 30% of the tariff increase between April and December had been passed through to consumers.

The study also found that many retailers initially absorbed some of the added costs as shoppers remained price-sensitive and companies worked through inventory purchased before tariffs took effect.

Now, billions of those tariff dollars are coming back.

The U.S. Supreme Court ruled on Feb. 20 that the International Emergency Economic Powers Act, or IEEPA, did not authorize the tariffs challenged in the case.

The Court of International Trade subsequently directed U.S. Customs and Border Protection to liquidate or reliquidate eligible entries without the IEEPA duties, clearing a path for refunds.

That means eligible companies can recover duties they previously paid under the invalidated tariffs.

But this has created an unusual question for consumers: If retailers raised prices or otherwise changed their businesses because of tariffs, what happens when those companies get the tariff money back?

There is no single answer.

Bank of America’s latest retail tariff tracker, shared with TheStreet, also shows how differently companies are using the refunds.

The firm found that a broad group of retailers is reinvesting the money into prices, value, and other customer-facing initiatives, while others are using it to absorb higher freight and fuel costs.

Big name retailers like Walmart, Home Depot, TJX, Williams-Sonoma, and Lowe’s have collectively recognized billions of dollars in tariff refunds or related benefits.

Some are putting the money toward prices or other customer investments. Others are offsetting higher operating costs, rewarding employees, or reimbursing suppliers.

For shoppers, receiving a tariff refund does not necessarily result in a refund at checkout.

Walmart puts tariff refunds toward prices

Walmart has by far received the largest refund among the five retailers.

The company received approximately $2.9 billion in tariff refunds during its fiscal second quarter, representing substantially all of the refunds it had requested at the time, according to its quarterly filing.

For Walmart shoppers, at least part of that money is being directed back toward prices.

The retailer said a significant portion of the refunds was invested in customer-focused initiatives during the quarter, primarily through price investments and other cost-mitigation strategies.

Walmart plans to continue prioritizing tariff refunds for price investments through fiscal 2027.

The refunds also boosted Walmart’s profitability. Its U.S. gross profit rate benefited from these reimbursements, but the gain was partially offset by lower-priced investments and higher fuel costs.

Walmart is not mailing customers checks for tariffs. Instead, it is using some of the recovered money to help fund lower prices going forward.

BofA estimates Walmart will have roughly a $600 million net benefit after its third-quarter price investments. When the second and third quarters are considered together, however, the firm expects tariff refunds to have relatively little net impact on earnings because much of the benefit is being reinvested.

For a retailer whose business is heavily built around price, this gives Walmart more room to compete on value without absorbing the full cost itself.

Consumers could ultimately benefit through more aggressive pricing.

Walmart received around $2.9 billion in tariff refunds.Bloomberg / Getty Images

Home Depot uses refunds to absorb rising costs

Home Depot is taking a different approach.

The home-improvement retailer received approximately $730 million in IEEPA tariff refunds during its second quarter. About $685 million reduced the cost of goods already sold, while another $45 million remained tied to inventory.

But shoppers should not expect the entire benefit to translate into new discounts.

Home Depot’s CFO, Richard McPhail, said the company is using the refunds to offset unplanned increases in fuel, energy, and other product-input costs throughout the year.

Its fiscal 2026 outlook similarly assumed that tariff refunds will partially offset those higher expenses.

This makes the consumer benefit less visible than at Walmart.

The refunds could help the company avoid passing as much cost pressure on to shoppers. However, Home Depot has not said every refunded tariff dollar will result in a corresponding price reduction.

Lowe’s says future refunds will go back into customer value

Lowe’s received a smaller tariff benefit during its latest quarter.

The company recognized approximately $80 million in pretax IEEPA tariff refunds during the second quarter. The benefit contributed about 11 cents to earnings per share.

However, much of that benefit was effectively swallowed by other expenses.

Chief Financial Officer Brandon Sink said on Lowe’s earnings call that the $80 million benefit was largely offset by higher fuel and transportation costs.

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Lowe’s expects to receive more tariff refunds during the second half of the year than it recognized in the second quarter. Those refunds are not included in the company’s fiscal 2026 guidance, leaving additional room for customer-facing investments if the money arrives as expected.

For shoppers, this means the initial refund did little to create a large new pool of money for discounts because other costs were rising at the same time.

Future refunds, however, could have a more direct effect on pricing, promotions, or other customer investments if Lowe’s receives them.

TJX uses part of refund for worker bonuses

At TJX, the parent company of T.J. Maxx, Marshalls, and HomeGoods, employees are among the clearest beneficiaries.

TJX estimates it paid about $490 million in IEEPA tariffs and received $331 million in refunds during its fiscal second quarter. The company then accrued $112 million for additional year-end incentive compensation and discretionary bonuses for eligible employees globally.

TJX recorded the refund primarily as a benefit to its cost of sales. But it has not announced a Walmart-style commitment to use the recovered money specifically for broad price reductions.

This does not mean customers receive no benefit, though. A lower merchandise cost base can give an off-price retailer more flexibility on pricing and margins.

But the company’s most explicit decision tied to the refund so far has been to share part of it with employees.

Williams-Sonoma returns money to suppliers and workers

Williams-Sonoma has divided its tariff refund across several groups.

The owner of Pottery Barn and West Elm filed for approximately $197.8 million in IEEPA tariff refunds and had collected $200.2 million, including interest, by early August.

Of the refund recognized, Williams-Sonoma set aside $47.5 million to reimburse merchandise vendors that had previously provided tariff-related concessions. It also allocated $10 million for a one-time discretionary 401(k) contribution to eligible employees.

Another $29.3 million was recorded as a reduction in the value of merchandise inventory and was expected to flow through cost of goods sold as that inventory was sold.

Williams-Sonoma also excluded the net benefit of the refunds from its adjusted earnings guidance, treating the recovery as a one-time event rather than part of its underlying business performance.

Again, there is no equivalent promise that shoppers who paid higher prices because of tariffs will receive cash back. Instead, Williams-Sonoma is effectively unwinding some of the financial effects tariffs had across its supply chain.

This included concessions previously made by suppliers and sharing part of the benefit with employees.

These refunds do not mean tariffs have disappeared entirely.

Retailers continue to face duties imposed under other trade laws, along with transportation, fuel, labor, and merchandise costs that can influence the prices customers see in stores.

Bank of America cautioned that those pressures could persist into 2027, when retailers will no longer have the same one-time tariff refund benefit helping offset them.

For shoppers, the impact will continue to vary by retailer, from lower prices and promotions to little visible change at all.

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