Membership warehouses operator Costco Wholesale Corp. (COST) said Thursday that it had posted a slight increase in its first-quarter net profit on improved sales, which, however were offset by strong U.S. dollar and lower gasoline prices. On a per share basis, earnings remained flat with last year and came in line with the Street view.
The Issaquah, Washington-based company reported net income attributable to Costco of $266 million, slightly higher than $263 million reported in the year-ago quarter. On a per share basis, earnings came flat with last year's $0.60.
On average, 24 analysts polled by Thomson Reuters estimated the company to report earnings of $0.60 per share for the quarter. Analysts' estimates typically exclude special items.
Costco's total quarterly revenue, which includes net sales and membership fees, rose to $17.30 billion from $16.39 billion in the prior year quarter. Net sales for the quarter totaled $16.92 billion, up 6% from $16.04 billion reported in the first quarter of fiscal 2009. Eighteen analysts had a consensus revenue estimate of $17.31 billion for the quarter.
Comparable sales during the quarter edged up 3%, comprising 1% rise in U.S. and a 13% jump in overseas. Excluding the negative impacts from gasoline deflation and foreign exchange, U.S. comparable sales increased 3% for the 12-week first-quarter. U.S comparable sales were up 2%, without gasoline deflation, and international sales without foreign exchange, rose 8%.
For the month of November, net sales increased 9% to $6.04 billion from $5.55 billion in the prior year period. Costco's comparable store sales improved 6%, reflecting higher gasoline prices and weaker U.S. dollar.
For the preceding fourth-quarter, Costco Wholesale reported lower earnings, hurt by softness in U.S. sales, higher employee benefit costs, and weaker foreign currencies. Net income was $374 million or $0.85 per share, compared to $398 million or $0.90 per share in the corressponding quarter of fiscal 2008. Total revenue for the quarter dropped to $22.38 billion from last year's $23.10 billion. Comparable sales for the quarter declined 5%.
Costco currently operates 566 warehouses, including 413 in the United States and Puerto Rico, 77 in Canada, 21 in the United Kingdom, seven in Korea, six in Taiwan, nine in Japan, one in Australia and 32 in Mexico.
Among other players in the sector, BJ's Wholesale Club Inc. (BJ) posted lower earnings for the third-quarter, hurt by charges as reserve for legal claim settlements, despite revenue growth. The Natick, Massachusetts-based company's net income was $17.67 million or $0.32 per share versus $28.24 million or $0.48 per share in the prior-year quarter. Total revenues for the quarter increased to $2.51 billion from $2.46 billion in the same period last year.
In the past 52-weeks, COST has been trading in the range of $38.17 - $61.25. COST closed Wednesday's trade at $58.66.
For comments and feedback contact: editorial@rttnews.com
June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.