ISSAQUAH, Wash. — Costco Wholesale Corp. posted higher profit in its fiscal fourth quarter and full year, underscoring the membership-based retailer’s resilience and continued expansion at home and abroad.
Net income for the fourth quarter rose to $2.61 billion, or $5.87 per diluted share, compared with $2.35 billion, or $5.29 per share, in the year-ago period. Last year’s results were boosted by a one-time tax benefit of $63 million, equal to $0.14 per share, tied to a transfer pricing settlement and adjustments to tax reserves.
For the full fiscal year, Costco reported net income of $8.10 billion, or $18.21 per diluted share, up from $7.37 billion, or $16.56 per share, the prior year. The steady improvement reflects strong membership renewal rates, higher traffic in both warehouse clubs and e-commerce, and the appeal of Costco’s value proposition during a period of uneven consumer spending.
The company also continued to expand its global footprint. As of quarter’s end, Costco operated 914 warehouses, including 629 in the United States and Puerto Rico and 110 in Canada. International growth remains a priority, with 42 clubs in Mexico, 37 in Japan, 29 in the United Kingdom, 20 in Korea, 15 in Australia, and additional locations in Taiwan, China, Spain, France, Sweden, Iceland, and New Zealand. Costco also runs e-commerce platforms in eight markets, including the U.S., Canada, the U.K., and Mexico.
Executives emphasized that the combination of disciplined cost controls, limited-markup merchandising, and steady expansion into new markets has kept Costco well positioned, despite pressures from inflation and shifts in discretionary spending. With consumers continuing to seek value on essentials and premium goods alike, Costco’s performance highlights the durability of its club model.
