Costco Reports Third Quarter Financial Results
ISSAQUAH, WA - The results are in for Costco Wholesale Corporation’s third quarter and the first 36 weeks of fiscal 2023, and they show that the retailer is still on the rise. For the quarter ending May 7, 2023, the company saw a net sales increase of $990 million, and for the first 36 weeks, Costco reported an $8.31 billion lift.
These net sales increases are equivalent to 1.9 percent and 5.5 percent, respectively, according to a release. Other highlights include:
- Net sales for the third quarter rose from $51.61 billion to $52.6 billion from the year prior
- Net sales for the first 36 weeks increase from $151.97 billion to $160.28 billion from last year
- Total company comparable sales increased 0.3 percent for the quarter and 4 percent for the first 36 weeks
Costco currently operates 853 warehouses, including 587 in the United States and Puerto Rico, 107 in Canada, 40 in Mexico, 32 in Japan, 29 in the United Kingdom, 18 in Korea, 14 in Taiwan, 14 in Australia, four in Spain, three in China, two in France, and one each in Iceland, New Zealand, and Sweden. Costco also operates e-commerce sites in the U.S., Canada, the U.K., Mexico, Korea, Taiwan, Japan, and Australia.
To read the release in its entirety, click here.
What will the fourth quarter hold for Costco? Stay tuned to ANUK for answers.