Costco quarter sales are $52.28 billion, up from $46.45 billion, a 12.5% increase from last year, according to a press release. Fiscal year’s net sales were $163.22 billion, up from $149.35 billion, a 9.3% rise from last year. Net income for the quarter is $1.389 billion, an increase from 1.097 billion last year. Diluted share price is $ 3.13, an increase from $ 2.47 last year. Net income for the fiscal year at $ 4.00 billion, up from $ 3.66 billion last year. Diluted share price for the fiscal year at $9.02, up from $8.26 last year. 

  • Quarterly earnings adversely impacted by COVID-19 related expenses of premium wages and sanitation costs of $281 million pretax, a $36 million pretax charge, and prepayment of $1.5 billion debt.
  • Covid-19 related expenses in quarter partially offset by an $84 million pre-tax benefit for the partial reversal $ 123 million pretax related to a product tax assessment taken in the fourth quarter of last year.
  • Comparable sales fourth quarter 
    • US sales +11.0% (Adjusted +13.6%) 
    • Canada +9.1% (Adjusted +12.6%)
    • Other international +16.1% (Adjusted +18.8%)
    • Total +11.4% (Adjusted +14.1%) 
    • E-commerce +90.6% (Adjusted +91.3%)
    • Merchandise costs $46.4B versus $41.3B year over a year basis. 
    • Costco currently operates 795 warehouses versus 787 quarter over a quarter basis.

Costco’s stock trading lower on good quarterly and fiscal year results and lower guidance. COST: NASDAQ is down 2.87%