Sunday, October 1, 2023

Costco earns 3,849 million euros, up 8.5%, driven by sales growth

North American distribution chain Costco Wholesale Corporation reported net attributable profit of $4,132 million (3,849 million euros) in its first nine fiscal months ended May 8. The results represent an advance of 8.5% compared to the figures for the same period last year.

The US firm brought in a total of 5.5% more to $163,251 million (152,067 million euros). Of this amount, sales ‘per se’ provided most of the income, at $160,280 million (149,299 million euros), up 5.5% from the previous year. In the latter, membership commissions accounted for $3,071 million (2,861 million euros), up 6%.

In its favor, Costco’s expenses were $158,002 million (147,177 million euros), up 5.6%. The multinational has clarified that $143,367 million (133,545 million euros) and $14,651 million (13,647 million euros) correspond to the heads of cost of goods and selling, general and administrative expenses, respectively.

Total 853 Warehouses

Costco currently operates a total of 853 stores—according to Europa Press—including 587 in the United States and Puerto Rico, 107 in Canada, 40 in Mexico, 32 in Japan, 29 in the United Kingdom, 18 in South Korea, 14 are included. Taiwan and another 14 in Australia, four in Spain, three in China, two in France and one each in Iceland, New Zealand and Sweden. Similarly, Costco also has online stores in the US, Canada, the United Kingdom, Mexico, South Korea, Taiwan, Japan, and Australia.

Regarding the group’s third quarter, Costco posted a net profit of $1,302 million (1,213 million euros) between February and the beginning of May, down 3.8% from a year earlier, while its revenue rose 2% to $53,648. million dollars ( 49,973 million euros).

World Nation News Desk
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