Costco Reports Second Quarter Fiscal 2019 Results, Beats Wall Street Expectations
ISSAQUAH, WA - Costco has once again proven itself a strong contender for retail dominance, after recently releasing its financial results for the second quarter (12 weeks) and the first 24 weeks of fiscal 2019. The operating results ended February 17, 2019, and showed a distinct increase in sales.
Net sales for the quarter increased by 7.3 percent to $34.63 billion, up from last year’s results of $32.28 billion. Net sales for the first 24 weeks also increased by 8.7 percent to $68.94 billion, up from last year’s $63.40 billion.
Some notable figures include:
- Reported net income for the quarter was $889 million, or $2.01 per diluted share, compared to $701 million, or $1.59 per diluted share, last year
- Net income for the first 24 weeks was $1.66 billion, or $3.74 per diluted share, compared to $1.34 billion, or $3.04 per diluted share, last year
- For the four-week reporting month of Feb. (ending March 3), the company reported net sales of $10.72 billion, a 5 percent increase from $10.21 billion last year
- For the 26-week period (ending March 3), net sales were reported at $74.42 billion, an 8.6 percent increase from $68.51 billion last year
While the report shows an overall increase in sales, there were still some setbacks. The weather negatively impacted February’s sales by approximately 1 percent throughout the U.S. and Canada. This year, Chinese New Year occurred 11 days earlier in February, which negatively impacted February’s Other International sales by approximately 4.5 percent, and total company sales by approximately 0.5 percent.
Click here to view the company’s financial report in its enirety.
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