Backed by a successful strategy, Costco has been going strong all year, as evidenced by its recent 16-week fourth quarter and 52-week fiscal year results. In the report for the period ending August 28, 2022, the retailer reported a $198 million boost as its fourth-quarter net income rose from $1.67 billion last year to $1.868 billion in 2022.
According to the press release, Costco’s net sales for the quarter increased 15.2 percent, to $70.76 billion, from $61.44 billion last year. For the full fiscal year, net sales increased 16.0 percent, to $222.73 billion, from $192.05 billion last year.
The company’s net income for the fiscal year reached $5.84 billion compared to $5.01 billion in the prior year.
With a network that spans 838 warehouses, and locations in the United States, Canada, Japan, Mexico, the United Kingdom, Australia, Spain, and more, we won’t be surprised to see even more impressive growth from this retailer.
To read the report in its entirety, click here.
What will this year hold for the retail giant? Stick with Deli Market News for answers.