Costco Sees Robust Sales and Income Growth for Third Quarter
ISSAQUAH, WA – Costco announced operating results for the company’s third quarter this Thursday, noting robust growth in sales and revenue.
Third quarter highlights from the company’s statement include:
- Net sales for the quarter increased eight percent, to $28.22 billion from $26.15 billion last year.
- Net income for the quarter was $700 million, or $1.59 per diluted share, compared to $545 million, or $1.24 per diluted share, last year.
The company noted that its net income was positively impacted by an $82 million ($0.19 per diluted share) tax benefit in connection with the $7.00 per share special cash dividend announced on April 25, 2017, to the extent to be received by the Company’s 401(k) plan participants.
Additionally, the company noted results for first 36 weeks of its fiscal year, highlights of which include:
- Net sales for the first thirty-six weeks increased six percent, to $84.82 billion from $80.34 billion last year.
- Net income for the thirty six weeks was $1.76 billion, or $3.99 per diluted share, compared to $1.57 billion, or $3.56 per diluted share, last year.
Comparable sales at the retailer's stores in the U.S. increased six percent year-over-year, and five percent in all markets. Costco currently operates 732 warehouses, including 510 in the United States and Puerto Rico, 95 in Canada, 37 in Mexico, 28 in the United Kingdom, 25 in Japan, 13 in Korea, 13 in Taiwan, eight in Australia, two in Spain, and one in Iceland. The company also operates e-commerce operations in the U.S., Canada, the United Kingdom, Mexico, Korea, and Taiwan.
View the company’s statement in its entirety here.
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