Strong Sales Propel Costco In Q4, Fiscal Year

Fourth quarter net revenue at Costco was up 7% as the warehouse club continued to see sales gains in stores and online.

For the 16-week period ended September 1, total revenue was $47.5 billion, up from revenue of $44.4 billion in the comparable quarter the prior fiscal year. Net income was $1.1 billion, or $2.47 per diluted share, up from net income of $1.04 billion, or $2.36 per diluted share, in the fiscal year fourth quarter of 2018.

E-commerce sales were up 21.9% with strong growth from several key categories including electronics and appliances, the company said.

Quarterly comparable stores sales company-wide were up 5.1% with the company’s U.S. division reporting comparable-store sales growth of 6.2%.

For the full fiscal year, net sales were $149.35 billion, an increase of 7.9% from $138.43 billion during the similar period last year. Net income for the fiscal year was $3.66 billion, or $8.26 per diluted share, compared to $3.13 billion, or $7.09 per diluted share, in the prior year.