ISSAQUAH, WA - After boosting memberships and eyeing further growth in multiple areas, Costco reported a strong increase in sales as it closed out its fourth quarter for fiscal year 2017.
The retailer reported net sales for the 17-week fourth quarter were $41.36 billion, an increase of 15.8% from $35.73 billion in the 16-week fourth quarter of fiscal 2016.
Net income for the fourth quarter also saw a boost, according to the financial report. At the end of the period net income was $919 million, or $2.08 per diluted share, compared to $779 million, or $1.77 per diluted share, in the fourth quarter last year.
Costco ended its 2017 fiscal year with 741 warehouses in operation, including:
- 514 in the United States and Puerto Rico
- 97 in Canada
- 37 in Mexico
- 28 in the United Kingdom
- 26 in Japan
The retailer also has a number of locations in Korea, Taiwan, Australia, Spain, and as of this year, France and Iceland.
As it stands overall, Costco saw net sales for the 53-week fiscal year at $126.17 billion, an increase of 8.7% from $116.07 billion in the 52-week fiscal year of 2016. Net income for the 53-week fiscal year was $2.68 billion, or $6.08 per diluted share, compared to $2.35 billion, or $5.33 per diluted share, in the 52-week prior year.
While the release did not cite specific contributions from groceries and perishables, the retailer has shown a keen interest in boosting its organics, having recently announced its attendance at the inaugural Organic Grower Summit.
As we continue to eye this and other key buy-side players while strategies unfold, keep checking in with AndNowUKnow.
