Costco sees slight lift in Q3 sales, net income
ISSAQUAH, Wash. — Costco experienced a slight lift in sales during the third quarter as total comparable sales slipped 1%.
For the 12 weeks ended May 10, net sales increased 1%, to $25.52 billion, from $25.23 billion last year. Total same-store sales declined 1% as U.S. comparable sales inched up 1%.
Net income for the quarter was $516 million, or $1.17 per diluted share, compared with $473 million, or $1.07 per diluted share, last year.
Costco currently operates 673 warehouses, including 474 in the United States and Puerto Rico, 89 in Canada, 35 in Mexico, 26 in the United Kingdom, 20 in Japan, 11 in Korea, 10 in Taiwan, seven in Australia and one in Spain. The company plans to open up to an additional 15 new warehouses (including one relocation) prior to the end of its fiscal year on Aug. 30.