October 8, 2014
Costco reported a rise in sales and same-store sales for the fourth quarter.
Net sales for the quarter were $34.75 billion, an increase of 9% from $31.77 billion in fiscal 2013. Same-store sales for the total company increased 6%, while U.S. same-store sales also rose 6%.
Net income for the quarter was $697 million, or $1.58 per diluted share, compared with $617 million, or $1.40 per diluted share, in the year-ago period.
Fiscal year 2014 sales totaled $110.21 billion, an increase of 7%. Same-store sales increased 4% for the company and 5% in the United States.
Net income for the fiscal year was $2.06 billion, or $4.65 per diluted share, compared with $2.04 billion, or $4.63 per diluted share, in fiscal year 2013. Net income last year was positively impacted by a $62 million tax benefit in connection with the portion of the special cash dividend paid in December 2012 to the company 401(k) plan participants.
Source: Retailing Today
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