ISSAQUAH, Wash., Sept. 23, 2021 (GLOBE NEWSWIRE) -- Costco Wholesale Corporation (“Costco” or the “Company”) (Nasdaq: COST) today announced its operating results for the 16-week fourth quarter and the 52-week fiscal year, ended August 29, 2021.
Net sales for the quarter increased 17.5 percent, to $61.44 billion from $52.28 billion last year. Net sales for the fiscal year increased 17.7 percent, to $192.05 billion from $163.22 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.
14.9%
10.3%
14.8%
13.6%
Canada
19.5%
6.7%
20.0%
12.1%
Other International
15.0%
7.3%
19.1%
13.4%
Total Company
15.5%
9.4%
16.0%
13.4%
E-commerce
11.2%
8.9%
44.4%
42.6%
*Excluding the impacts from changes in gasoline prices and foreign exchange.
Net income for the fourth quarter was $1.670 billion, or $3.76 per diluted share, compared to $1.389 billion, or $3.13 last year. This year’s fourth quarter was negatively impacted by a write-off of certain information technology assets of $84 million pre-tax ($0.14 per diluted share). Last year’s fourth quarter was negatively impacted by incremental expense related to COVID-19 premium wages and sanitation costs of $281 million pretax ($0.47 per diluted share) and a $36 million pretax charge ($0.06 per diluted share) related to the prepayment of $1.5 billion of debt, partially offset by an $84 million pretax benefit ($0.15 per diluted share) for the partial reversal of a reserve related to a product tax assessment taken in fiscal year 2019.
Net income for the fiscal year was $5.01 billion, or $11.27 per diluted share, compared to $4.00 billion, or $9.02 per diluted share in the prior year.
https://investor.costco.com/node/23041/pdf
