Costco Wholesale Corporation reported a strong performance in its third-quarter and year-to-date operating results for fiscal 2024, as announced on May 30, 2024. The company, which trades under the symbol COST on NASDAQ, saw a 9.1% increase in net sales for the quarter, reaching $57.39 billion, and a 7.0% increase for the first 36 weeks, totaling $171.44 billion. This growth was partially attributed to a shift in the fiscal calendar. Comparable sales also showed positive trends across various regions, with e-commerce sales surging by 20.7% for the quarter. Net income for the quarter stood at $1.68 billion, or $3.78 per diluted share, a significant increase from the previous year's $1.30 billion, or $2.93 per diluted share, which included a charge for discontinuing charter shipping activities. The first 36 weeks...Show More

Costco Wholesale Corporation reported a strong performance in its third-quarter and year-to-date operating results for fiscal 2024, as announced on May 30, 2024. The company, which trades under the symbol COST on NASDAQ, saw a 9.1% increase in net sales for the quarter, reaching $57.39 billion, and a 7.0% increase for the first 36 weeks, totaling $171.44 billion. This growth was partially attributed to a shift in the fiscal calendar. Comparable sales also showed positive trends across various regions, with e-commerce sales surging by 20.7% for the quarter. Net income for the quarter stood at $1.68 billion, or $3.78 per diluted share, a significant increase from the previous year's $1.30 billion, or $2.93 per diluted share, which included a charge for discontinuing charter shipping activities. The first 36 weeks net income rose to $5.01 billion, or $11.27 per diluted share, compared to $4.13 billion, or $9.30 per diluted share, in the prior year. Costco operates a total of 878 warehouses globally and continues to expand its e-commerce presence. The company's financial health remains robust, with a conference call scheduled to discuss these results further.