Q4, full year US comps creep up for Costco
October 10, 2013
Issaquah, Wash.--Costco Wholesale Corp. reported a single-digit increase in U.S. same-store sales for both the fourth quarter and fiscal year ended Sept. 1.
According to earnings released by the Issaquah-based warehouse retailer Wednesday, its U.S. same-store fourth quarter sales rose 5 percent year-over-year.
Net sales, including international operations, in the period were up 1 percent to $31.77 billion. Net income increased 1 percent from $609 million to $617 million.
In the company’s fiscal year, same-store U.S. sales climbed 6 percent.
Net sales, including international operations, fared better, increasing 6 percent to $102.87 billion. Net income rose from $1.71 billion to $2.04 billion, a 19 percent increase.
Costco, which ranks as one of the largest sellers of fine jewelry in the United States, has a total of 638 warehouses worldwide, including 454 in the United States and Puerto Rico as well as stores in Canada, Mexico, the United Kingdom, Japan, Taiwan, Australia and Korea.
The retailer said it plans to open 11 more locations before the end of the calendar year.