Costco Reports Fourth Quarter and Fiscal Year 2013 Operating Results


Wed. October 9th, 2013 - by Christofer Oberst

<p>Costco Wholesale Corporation has released details of its Fourth Quarter and Fiscal Year 2013 Operating Results and September Sales Results.<hr class="legacyRuler"><hr class="legacyRuler"><hr class="invisible minimal-padding"> For the 16-week fourth quarter, the company reported net sales of $31.77 billion, a 1% increase from $31.52 billion during the 17-week fourth quarter of fiscal 2012, which ended September 2, 2012. Net sales for the 52-week fiscal year 2013 were <B>$102.87 billion</b>, a 6% increase from $97.06 billion in the previous 53-week fiscal year, according to a press release.<hr class="legacyRuler"><hr class="legacyRuler"><hr class="invisible minimal-padding"> Costco’s net income for the fourth quarter of fiscal 2013 was $617 million, or $1.40 per diluted share, compared to $609 million, or $1.39 per diluted share, during the fourth quarter of fiscal 2012.<hr class="legacyRuler"><hr class="legacyRuler"><hr class="invisible minimal-padding">Net income for fiscal 2013 was $2.04 billion, or $4.63 per diluted share, compared to $1.71 billion, or $3.89 per diluted share, in fiscal 2012. Net income for fiscal 2013 was positively impacted by a second quarter $62 million ($0.14 per diluted share) tax benefit in connection with the portion of the special cash dividend paid in December 2012 to the Company 401(k) plan participants, according to a press release.<hr class="legacyRuler"><hr class="legacyRuler"><hr class="invisible minimal-padding">For the five-week reporting month of September, which ended October 6, 2013, the company reported net sales of $9.86 billion, a 6% increase from $9.33 billion during the similar five-week period last year.<hr class="legacyRuler"><hr class="legacyRuler"><hr class="invisible minimal-padding"> Costco currently operates 638 warehouses, with 454 in the U.S. and Puerto Rico, 85 in Canada, 34 in Mexico, 25 in the U.K., 18 in Japan, 10 in Taiwan, 9 in Korea, and 3 in Australia. Before the end of the calendar year 2013, Costco plans to open an additional 11 new warehouses.</p><hr class="legacyRuler"><hr class="invisible minimal-padding"><p><a class="btn btn-sm btn-primary col-lg-12" style="white-space: normal;" href="http://phx.corporate-ir.net/phoenix.zhtml?c=83830&amp;p=irol-irhome" target="_new"> Costco </a></p><hr class="legacyRuler"><hr class="invisible minimal-padding">