Costco continues to impress with its financial results. The big box chain recently reported its operating results for the quarter and first 24 weeks of fiscal 2024. In the report, the retailer announced that it has hit $114.05 billion in net sales.
For the second quarter, net sales increased 5.7 percent to $57.33 billion from $54.24 billion last year. According to a release, net income for the quarter was $1,743 million, $3.92 per diluted share, compared to $1,466 million, $3.30 per diluted share, last year.
Comparable sales for the United States during the second quarter were 4.3 percent, while total company comparable sales were 5.6 percent, and e-commerce was 18.6 percent, a press release explained.
Net sales for the first 24 weeks rose 5.9 percent from $107.68 billion last year. Net income for the first 24 weeks was $3.33 billion, $7.49 per diluted share, compared to $2.83 billion, $6.37 per diluted share last year.
For the four-week reporting month of February, which ended March 3, 2024, the company reported net sales of $18.21 billion, an increase of 6.9 percent from $17.04 billion last year. Net sales for the first 26 weeks were $123.15 billion, an increase of 6.1 percent from $116.06 billion last year.
To read more, click here.
Deli Market News will be here to report on how Costco performs throughout the year.
