ISSAQUAH, Wash., Dec. 09, 2021 (GLOBE NEWSWIRE) -- Costco Wholesale Corporation (COST) (Nasdaq: COST) today announced its operating results for the first quarter (twelve weeks) of fiscal 2022, ended November 21, 2021.
Net sales for the first quarter increased 16.7 percent, to $49.42 billion from $42.35 billion last year.
Comparable sales for the first quarter fiscal 2022 were as follows:
12 Weeks
12 Weeks
Adjusted*
U.S.
14.9%
9.9%
Canada
17.2%
8.3%
Other International
13.4%
10.9%
Total Company
15.0%
9.8%
E-commerce
14.3%
13.3%
*Excluding the impacts from changes in gasoline prices and foreign exchange.
Net income for the quarter was $1,324 million, $2.98 per diluted share, compared to $1,166 million, $2.62 per diluted share, last year. This year included a tax benefit of $91 million, $0.21 per diluted share, related to stock-based compensation, and a write-off of certain information technology assets of $118 million pre-tax, $0.20 per diluted share. Last year included tax benefits of $145 million, $0.33 per diluted share, and incremental expenses for COVID-19 premium wages of $212 million pre-tax, $0.35 per diluted share.
Costco currently operates 828 warehouses, including 572 in the United States and Puerto Rico, 105 in Canada, 40 in Mexico, 30 in Japan, 29 in the United Kingdom, 16 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.
