Costco Wholesale reports rising net sales and strong fiscal fourth quarter results

Costco Wholesale Corporation reported strong financial results for its fiscal fourth quarter ended August 30, with net sales increasing 11.2 percent to $93.9 billion. For the full 52-week fiscal year, net sales reached $297.2 billion, a 10.1 percent increase over the previous year. Total company comparable sales rose 9.4 percent for the quarter.

Regional performance showed comparable sales in the U.S. rising 10.7 percent for the quarter, while Canada saw a 5 percent increase. Digitally-enabled sales grew significantly, rising 19.5 percent for the quarter. Net income for the fourth quarter was $2.998 billion, or $6.75 per diluted share, up from $2.610 billion in the prior year.

In institutional trading news, Violich Capital Management Inc. reduced its position in Costco by 3.5 percent during the third quarter, leaving the firm with 45,120 shares valued at approximately $41.075 million. Other institutional investors, including Sarasin & Partners LLP and Nissay Asset Management Corp Japan, reported increases in their holdings during recent periods.