Costco Reports Higher 4Q Profit as Sales, Membership Fees Rise

Dow Jones
09/25
 
 

Costco Wholesale reported a higher profit in its fiscal fourth quarter, boosted by growth in both net sales and membership fees.

The company logged a profit of $3 billion, or $6.75 a share, in the quarter ended Aug. 30. That compares with a profit of $2.61 billion, or $5.87 a share, a year earlier.

Revenue grew to $95.72 billion, up from $86.16 billion a year prior.

Analysts polled by FactSet were expecting a profit of $6.54 a share on $94.97 billion in revenue.

Comparable sales rose 9.4% in the quarter, including 11% growth in the U.S., 5% growth in Canada, and 7% growth in other international markets. Digitally-enabled comparable sales were up nearly 20%.

Excluding the effects of gas prices and foreign-exchange rates, adjusted same-store sales were up 6.7% across the company.

Membership fees were $1.85 billion, up from $1.72 billion. Net sales, which constitute most of Costco's top line, grew to $93.87 billion from $84.43 billion.

 
 

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