Costco beat fourth-quarter sales and earnings estimates with revenues surpassing $240 billion for the year.
In the period, Costco recorded company net income of $2.16 billion, or $4.86 per diluted share, versus $1.87 billion, or $4.20 per diluted share, in the year-before quarter.
Costco topped a fourth-quarter MarketBeat-published analyst consensus estimate on earnings, at $4.79, and sales, at $77.72 billion
Comparable sales, with the effects of fuel and foreign exchange excluded, gained 3.8% with stores in the United States up 3.1%, those in Canada up 7.4% and those in other international markets up 4.4%, the company stated. E-commerce comps slipped 0.6%.
Net sales for the quarter were $77.43 billion while net revenue, including membership fees, was $78.94 billion versus $70.76 billion and $72.1 billion, respectively, in the year-earlier quarter. Operating income was $2.78 billion versus $2.5 billion in the year-earlier period. Comps, sans fuel and foreign exchange effects, were up 5.2%, with U.S. stores up 4.2%, Canadian stores up 8.1% and stores in other international markets up 7.6%, the company reported. E-commerce comps decreased 4.8%
For the full fiscal year, Costco posted company net income of $6.29 billion, or $14.16 per diluted share, versus $5.84 billion, or $13.14 per diluted share, in the quarter a year before.
Net sales for the fiscal year were $237.71 billion while net revenue was $242.29 billion versus $222.73 billion and $226.95 billion, respectively, in the year previous. Operating income was $8.11 billion versus $7.79 billion in the year earlier.
Costco CFO Richard Galanti said fourth-quarter traffic increased 5% in the United States. He added, although some nonfoods categories were soft in the quarter, appliances made significant gains online. He noted Costco is gaining market share in nonfoods.
