Customers carry their items after shopping at Costco in Washington, D.C., the United States, May 5, 2021. (Photo by Ting Shen/Xinhua)
Net sales for the second quarter increased 6.5 percent, to 54.24 billion U.S. dollars, from 50.94 billion dollars the previous year, Costco said.
SAN FRANCISCO, March 2 (Xinhua) -- U.S. Costco Wholesale Corporation on Thursday announced its operating results for the second quarter (twelve weeks) and the first 24 weeks of fiscal 2023, which ended on Feb. 12.
Net sales for the quarter increased 6.5 percent, to 54.24 billion U.S. dollars, from 50.94 billion dollars the previous year. Net sales for the first 24 weeks increased 7.3 percent, to 107.68 billion dollars, from 100.35 billion dollars one year ago.
Net income for the quarter was 1,466 million dollars, 3.30 dollars per diluted share. Last year's second-quarter net income was 1,299 million dollars, 2.92 dollars per diluted share. Net income for the first 24 weeks was 2.83 billion dollars, or 6.37 dollars per diluted share, compared to 2.62 billion dollars, 5.90 dollars per diluted share, last year.
For the four-week reporting month of February, which ended on Feb. 26, 2023, the company reported net sales of 17.06 billion dollars, an increase of 4.7 percent from 16.29 billion dollars last year.
Lunar New Year/Chinese New Year occurred on Jan. 22, 10 days earlier this year. The shift positively impacted February's Other International and Total Company sales by approximately 2 percent and 0.25 percent, respectively, Costco said.
For the twenty-six week period ending Feb. 26, 2023, net sales were 116.06 billion dollars, an increase of 7.1 percent from 108.39 billion dollars last year.
Costco currently operates 848 warehouses, including 584 in the United States and Puerto Rico, 107 in Canada, 40 in Mexico, 31 in Japan, 29 in the United Kingdom, and two in the Chinese mainland. ■
