Net sales for the quarter increased 8.0 percent, to $84.4 billion, from $78.2 billion last year. Net sales for the fiscal year increased 8.1 percent, to $269.9 billion, from $249.6 billion last year.
Comparable sales for the fourth quarter and fiscal year were as follows:
16 Weeks
16 Weeks
52 Weeks
52 Weeks
Adjusted*
Adjusted*
U.S.
5.1%
6.0%
6.2%
7.3%
Canada
6.3%
8.3%
5.0%
8.3%
Other International
8.6%
7.2%
4.8%
8.2%
Total Company
5.7%
6.4%
5.9%
7.6%
E-commerce
13.6%
13.5%
15.6%
16.1%
*Excluding the impacts from changes in gasoline prices and foreign exchange.
Net income for the fourth quarter was $2.610 billion, $5.87 per diluted share, compared to $2.354 billion, $5.29 per diluted share, last year. Last year's results included a net non-recurring tax benefit of $63 million, $0.14 per diluted share, related to a transfer pricing settlement, and true-ups of tax reserves. Net income for the fiscal year was $8.099 billion, $18.21 per diluted share, compared to $7.367 billion, $16.56 per diluted share, last year.
Costco currently operates 914 warehouses, including 629 in the United States and Puerto Rico, 110 in Canada, 42 in Mexico, 37 in Japan, 29 in the United Kingdom, 20 in Korea, 15 in Australia, 14 in Taiwan, seven in China, five in Spain, two in France, two in Sweden, and one each in Iceland, and New Zealand. Costco also operates e-commerce sites in the U.S., Canada, the U.K., Mexico, Korea, Taiwan, Japan, and Australia.
A conference call to discuss these results is scheduled for 2:00 p.m. (PT) today, September 25, 2025, and will be available via a webcast on investor.costco.com (click "Events & Presentations").
Certain statements contained in this document constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. For these purposes, forward-looking statements are statements that address activities, events, conditions or developments that the Company expects or anticipates may occur in the future. In some cases forward-looking statements can be identified because they contain words such as "anticipate," "believe," "continue," "could," "estimate," "expect," "intend," "likely," "may," "might," "plan," "potential," "predict," "project," "seek," "should," "target," "will," "would," or similar expressions and the negatives of those terms. Such forward-looking statements involve risks and uncertainties that may cause actual events, results or performance to differ materially from those indicated by such statements. These risks and uncertainties include, but are not limited to, domestic and international economic conditions, including exchange rates, inflation or deflation, the effects of competition and regulation, uncertainties in the financial markets, consumer and small business spending patterns and debt levels, breaches of security or privacy of member or business information, conditions affecting the acquisition, development, ownership or use of real estate, capital spending, actions of vendors, rising costs associated with employees (generally including health-care costs and wages), workforce interruptions, energy and certain commodities, geopolitical conditions (including tariffs), the ability to maintain effective internal control over financial reporting, regulatory and other impacts related to environmental and social matters, public-health related factors, and other risks identified from time to time in the Company's public statements and reports filed with the Securities and Exchange Commission. Forward-looking statements speak only as of the date they are made, and the Company does not undertake to update these statements, except as required by law. Comparable sales and comparable sales excluding impacts from changes in gasoline prices and foreign exchange are intended as supplemental information and are not a substitute for net sales presented in accordance with U.S. GAAP.
CONTACTS:
Costco Wholesale Corporation
Josh Dahmen, 425/313-8254
Andrew Yoon, 425/313-6305
COST-Earn
COSTCO WHOLESALE CORPORATIONCONSOLIDATED STATEMENTS OF INCOME(dollars in millions, except per share data) (unaudited)
16 Weeks Ended
52 Weeks Ended
August 31, 2025
September 1, 2024
August 31, 2025
September 1, 2024
REVENUE
Net sales
$
84,432
$
78,185
$
269,912
$
249,625
Membership fees
1,724
1,512
5,323
4,828
Total revenue
86,156
79,697
275,235
254,453
OPERATING EXPENSES
Merchandise costs
75,037
69,588
239,886
222,358
Selling, general and administrative
7,778
7,067
24,966
22,810
Operating income
3,341
3,042
10,383
9,285
OTHER INCOME (EXPENSE)
Interest expense
(46
)
(49
)
(154
)
(169
)
Interest income and other, net
215
120
589
624
INCOME BEFORE INCOME TAXES
3,510
