Costco Reports Fourth Quarter and Fiscal Year 2013 Operating Results
Costco Wholesale Corporation has released details of its Fourth Quarter and Fiscal Year 2013 Operating Results and September Sales Results.
For the 16-week fourth quarter, the company reported net sales of $31.77 billion, a 1% increase from $31.52 billion during the 17-week fourth quarter of fiscal 2012, which ended September 2, 2012. Net sales for the 52-week fiscal year 2013 were $102.87 billion, a 6% increase from $97.06 billion in the previous 53-week fiscal year, according to a press release.
Costco’s net income for the fourth quarter of fiscal 2013 was $617 million, or $1.40 per diluted share, compared to $609 million, or $1.39 per diluted share, during the fourth quarter of fiscal 2012.
Net income for fiscal 2013 was $2.04 billion, or $4.63 per diluted share, compared to $1.71 billion, or $3.89 per diluted share, in fiscal 2012. Net income for fiscal 2013 was positively impacted by a second quarter $62 million ($0.14 per diluted share) tax benefit in connection with the portion of the special cash dividend paid in December 2012 to the Company 401(k) plan participants, according to a press release.
For the five-week reporting month of September, which ended October 6, 2013, the company reported net sales of $9.86 billion, a 6% increase from $9.33 billion during the similar five-week period last year.
Costco currently operates 638 warehouses, with 454 in the U.S. and Puerto Rico, 85 in Canada, 34 in Mexico, 25 in the U.K., 18 in Japan, 10 in Taiwan, 9 in Korea, and 3 in Australia. Before the end of the calendar year 2013, Costco plans to open an additional 11 new warehouses.
