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Costco Sales Up 10%, Income Rises 21%

12/09/2004 02:53:00 PM Eastern

Issaquah, Wash. — Costco Wholesale enjoyed a 10 percent increase in sales during the retailer’s fiscal first quarter, coming in at $11.3 billion, compared with $10.3 billion in the same three months last year. Comp-store sales jumped 7 percent during the quarter.

The wholesale club reported operating income of $300.6 million in the first quarter, ended Nov. 21. This compares with $254.8 million year-on-year.

Net income for the first three months soared 21 percent, hitting $193.2 million, up from $160.2 million in the same quarter in 2003.

Costco currently operates 333 warehouse locations in the United States and Puerto Rico, and 63 in Canada. Including international stores, the total climbs to 449.