Shares of Costco Wholesale (COST 0.65%) jumped 38.8% in 2024, according to data from S&P Global Market Intelligence. The famous membership-based retailer had another solid year opening new stores and growing its footprint in the e-commerce market. Now one of the largest companies in the world with a market cap of over $400 billion, Costco is firing on all cylinders and generating annual sales of $260 billion.Here's why the stock was higher yet again in 2024.Dominant retail modelCostco's retail model gives i ...