Costco sees lift in Q3 comp sales

ISSAQUAH, Wash. — Costco reported on Thursday a boost in third-quarter revenues and net income.

For the quarter ended May 11, net sales rose 7% to $25.23 billion from $23.55 billion last year. Same-store sales in the United States rose 5%, while total same-store sales increased 4%.

Net income for the quarter was $473 million, or $1.07 per diluted share, compared with $459 million, or $1.04 per diluted share, last year.

Costco currently operates 655 warehouses, including 464 in the United States and Puerto Rico, 87 in Canada, 33 in Mexico, 25 in the United Kingdom, 19 in Japan, 10 in Taiwan, 10 in Korea, six in Australia and one in Spain. The company stated that it plans to open up to an additional eight new warehouses prior to the end of its fiscal year on Aug. 31.

 

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