Costco reported strong Q1 2025 results, with net sales increasing 8% to $60.99 billion, driven by a 5% rise in comparable sales and 26 net new warehouse openings. Membership fee revenue grew 8% to $1.17 billion, reflecting new sign-ups and Executive Membership upgrades. The company's worldwide renewal rate reached 90.4%.Net income rose to $1.80 billion, or $4.04 per diluted share, compared to $1.59 billion, or $3.58 per diluted share, in Q1 2024. Gross margin percentage improved by 24 basis points to 11.28%, while SG&A expenses as a percentage of net sales increased slightly to 9.59%. The effective tax rate decreased to 22.0% from 24.5% in the previous year.Costco maintained a strong liquidity position with $11.83 billion in cash and short-term investments at quarter-end. The company declared a quarterly cash dividend of $1.16 per share and continued its share repurchase program. For fiscal 2025, Costco plans to open 29 new warehouses, including three relocations, and expects to spend approximately $5 billion on capital expenditures.

Costco reported strong Q1 2025 results, with net sales increasing 8% to $60.99 billion, driven by a 5% rise in comparable sales and 26 net new warehouse openings. Membership fee revenue grew 8% to $1.17 billion, reflecting new sign-ups and Executive Membership upgrades. The company's worldwide renewal rate reached 90.4%.Net income rose to $1.80 billion, or $4.04 per diluted share, compared to $1.59 billion, or $3.58 per diluted share, in Q1 2024. Gross margin percentage improved by 24 basis points to 11.28%, while SG&A expenses as a percentage of net sales increased slightly to 9.59%. The effective tax rate decreased to 22.0% from 24.5% in the previous year.Costco maintained a strong liquidity position with $11.83 billion in cash and short-term investments at quarter-end. The company declared a quarterly cash dividend of $1.16 per share and continued its share repurchase program. For fiscal 2025, Costco plans to open 29 new warehouses, including three relocations, and expects to spend approximately $5 billion on capital expenditures.