September 23, 2022
Costco Wholesale Corporation Reports Fourth Quarter and Fiscal Year 2022 Operating Results
Costco Wholesale Corporation announced its operating results for the 16-week fourth quarter and the 52-week fiscal year, ended August 28, 2022.
Net sales for the quarter increased 15.2 percent, to $70.76 billion, from $61.44 billion last year. Net sales for the fiscal year increased 16.0 percent, to $222.73 billion, from $192.05 billion last year.
Comparable sales for the fourth quarter and the fiscal year were as follows:
| 16 Weeks | 16 Weeks | 52 Weeks | 52 Weeks | ||||||
| Adjusted* | Adjusted* | ||||||||
| U.S. | 15.8% | 9.6% | 15.8% | 10.4% | |||||
| Canada | 13.4% | 13.7% | 15.2% | 12.1% | |||||
| Other International | 2.9% | 11.3% | 6.6% | 10.2% | |||||
| Total Company | 13.7% | 10.4% | 14.4% | 10.6% | |||||
| E-commerce | 7.1% | 8.4% | 10.1% | 10.4% | |||||
*Excluding the impacts from changes in gasoline prices and foreign exchange.
Net income for the fourth quarter was $1.868 billion, $4.20 per diluted share, compared to $1.670 billion, $3.76 per diluted share last year. Last year’s fourth quarter was negatively impacted by a write-off of information technology assets of $84 million pre-tax ($0.14 per diluted share).
Net income for the fiscal year was $5.84 billion, $13.14 per diluted share, compared to $5.01 billion, $11.27 per diluted share, in the prior year.
Costco currently operates 838 warehouses, including 578 in the United States and Puerto Rico, 107 in Canada, 40 in Mexico, 31 in Japan, 29 in the United Kingdom, 17 in Korea, 14 in Taiwan, 13 in Australia, four in Spain, two each in France and China and one in Iceland. Costco also operates e-commerce sites in the U.S., Canada, the United Kingdom, Mexico, Korea, Taiwan, Japan and Australia.
A conference call to discuss these results is scheduled for 2:00 p.m. (PT) today, Sept. 22, 2022 and is available via a webcast on Costco.
For more information, visit the company’s official press release.