Costco Wholesale Corp
- Costco Wholesale Corporation operates an international chain of membership warehouses.
- Costco operated about 850 warehouses worldwide.
- The company has operations in the U. S., Puerto Rico, Canada, Mexico, Japan, U.K., Korea, Taiwan, Australia, Spain, France, China, and Iceland.
Costco Wholesale Corporation (Nasdaq: COST, LSE: 0I47) operates an international chain of membership warehouses. The company has operation in the United States (U.S.) and Puerto Rico, Canada, Mexico, Japan, United Kingdom (U.K.), Korea, Taiwan, Australia, Spain, France, China, and Iceland. Costco operated about 850 warehouses worldwide.
Second Quarter Fiscal 2023 Results
March 02, 2023; Costco Wholesale Corporation announced its operating results for the second quarter (twelve weeks) and the first 24 weeks of fiscal 2023, ended February 12, 2023.
Net sales for the quarter increased 6.5 percent, to $54.24 billion, from $50.94 billion last year. Net sales for the first 24 weeks increased 7.3 percent, to $107.68 billion, from $100.35 billion last year.
Net income for the quarter was $1,466 million, $3.30 per diluted share. Last year’s second quarter net income was $1,299 million, $2.92 per diluted share. Net income for the first 24 weeks was $2.83 billion, or $6.37 per diluted share, compared to $2.62 billion, $5.90 per diluted share, last year.
For the four-week reporting month of February, ended February 26, 2023, the Company reported net sales of $17.06 billion, an increase of 4.7 percent from $16.29 billion last year. Lunar New Year/Chinese New Year occurred on January 22, 10 days earlier this year. The shift positively impacted February’s Other International and Total Company sales by approximately 2% and 0.25%, respectively. For the twenty-six week period ended February 26, 2023, net sales were $116.06 billion, an increase of 7.1 percent from $108.39 billion last year.
Fiscal Year 2022 Results
Net sales increased 16% to $222,730 fiscal year, ended August 28, 2022. Net income for the fiscal year was $5.84 billion, $13.14 per diluted share, compared to $5.01 billion, $11.27 per diluted share, in the prior year.
Net sales increased $30,678 or 16% during 2022. The improvement was attributable to an increase in comparable sales of 14%, and sales at new warehouses opened in 2021 and 2022. Sales increased $15,830 in core merchandise categories and $14,848 in warehouse ancillary and other businesses. The rate of increase was strongest in its gasoline, business centers, and travel businesses. Sales continued to be impacted by inflation, higher than what the company experienced in previous fiscal years.
Costco Wholesale Corporation and its subsidiaries began operations in 1983, in Seattle, Washington. Costco Wholesale Corporation operates an international chain of membership warehouses, mainly under the "Costco Wholesale" name, that carry merchandise at lower prices than are typically found at conventional wholesale or retail sources.
Costco warehouses present one of the largest product category selections to be found under a single roof. Categories include groceries, candy, appliances, television and media, automotive supplies, tires, toys, hardware, sporting goods, jewelry, watches, cameras, books, housewares, apparel, health and beauty aids, furniture, office supplies and office equipment.
Additionally, Costco Wholesale Industries, a division of the Company, operates manufacturing businesses, including special food packaging, optical laboratories, meat processing and jewelry distribution.
Costco members can shop for private label Kirkland Signature™ products. brands, including juice, cookies, coffee, housewares, luggage, clothing and detergent. The Company also operates self-service gasoline stations at a number of its U.S., Canada, Australia, Japan, United Kingdom, Spain, Mexico, Taiwan, and Iceland locations.
Costco currently operates 850 warehouses, including 585 in the United States and Puerto Rico, 107 in Canada, 40 in Mexico, 31 in Japan, 29 in the United Kingdom, 18 in Korea, 14 in Taiwan, 14 in Australia, four in Spain, three in China and two in France, and one each in Iceland, New Zealand and Sweden. Costco also operates e-commerce sites in the U.S., Canada, the United Kingdom, Mexico, Korea, Taiwan, Japan and Australia.
Major Brands available at Costco Wholesale Corp
- General Mills
- Grand Leisure
- Kirkland Signature
- Mars Wrigley
- RST Brands
- Starsong Sirio
- Windows 11