Net sales for the first quarter increased 8.2 percent, to $65.98 billion from $60.99 billion last year.
Comparable sales for the first quarter fiscal 2026 were as follows:
12 Weeks
12 Weeks
Adjusted*
U.S.
5.9%
5.9%
Canada
6.5%
9.0%
Other International
8.8%
6.8%
Total Company
6.4%
6.4%
Digitally-Enabled
20.5%
20.5%
*Excluding the impacts from changes in gasoline prices and foreign exchange.
Net income for the quarter was $2,001 million, $4.50 per diluted share, compared to $1,798 million, $4.04 per diluted share, last year. This year's results included a tax benefit of $72 million, $0.16 per diluted share, related to stock-based compensation, which last year was $100 million, $0.22 per diluted share.
Costco currently operates 923 warehouses, including 633 in the United States and Puerto Rico, 114 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, three 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, December 11, 2025, and is 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 CORPORATION CONSOLIDATED STATEMENTS OF INCOME (dollars in millions, except per share data) (unaudited)
12 Weeks Ended
November 23,2025
November 24,2024
REVENUE
Net sales
$
65,978
$
60,985
Membership fees
1,329
1,166
Total revenue
67,307
62,151
OPERATING EXPENSES
Merchandise costs
58,510
54,109
Selling, general and administrative
6,334
5,846
Operating income
2,463
2,196
OTHER INCOME (EXPENSE)
Interest expense
(35
)
(37
)
Interest income and other, net
155
147
INCOME BEFORE INCOME TAXES
2,583
2,306
Provision for income taxes
582
508
NET INCOME
$
2,001
$
1,798
NET INCOME PER COMMON SHARE:
Basic
$
4.51
$
4.05
Diluted
$
4.50
$
4.04
