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Home >> Costco Reports Higher Sales, Profit in Q4
ISSAQUAH, WASH. — Costco Wholesale reported higher sales and better net profits in its fiscal fourth quarter, ended Sept. 1, and higher volume for the year.
Net sales for the quarter were $31.77 billion, an increase of 1 percent from $31.52 billion in the prior year’s fourth quarter. Net sales for the 52-week fiscal year 2013 were $102.87 billion, an increase of 6 percent from $97.06 billion in the prior fiscal year.
Comp sales in the U.S. were up 5 percent in the quarter from the prior year’s fiscal fourth quarter, with comp sales for the fiscal year up 6 percent compared with the prior year.
Net income for the fourth quarter of fiscal 2013 was $617 million, up from the prior year’s final quarter of $609 million.
Net income for fiscal 2013 was $2.04 billion, compared with $1.71 billion in fiscal year 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’s 401(k) plan participants.
This TWICE webinar, hosted by senior editor Alan Wolf, will take a look at what may be the hottest CE products at retail that will be sold during the all-important fourth quarter. Top technologies, market strategies and industry trends will be discussed with industry analysts and executives.