Costco Reports First Quarter Fiscal Year 2022 Results; Reveals Notable Growth
ISSAQUAH, WA - Costco recently reported its operating results for the first quarter of its fiscal 2022, which ended November 21, 2021. The most notable gain was its net sales, which increased 16.7 percent to $49.2 billion from $42.35 billion last year—a total $6.8 billion gain.
According to a release, the net income for the quarter was $1.3 billion, compared to $1.1 billion to the comparable quarter last year. This year did include a tax benefit of $91 million, as well as a write-off of certain technology assets of $118 million pre-tax.
Last year included tax benefits of $145 million, and incremental expenses for COVID-19 premium wages of $212 million pre-tax.
The retailer’s network continues to grow, with operations totaling 828 globally. With its home base standing at 572 warehouses in the United States, we’ll continue to see where the retailer grows—and how fast.
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