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Sales climb 9% at Costco Wholesale in Q4FY14
11
Oct '14
Net sales for the fourth fiscal quarter ending August 31, 2013 at NASDAQ-listed Costco Wholesale Corporation totalled to $34.75 billion, up 9% from $31.77 billion in fiscal year ending August 31, 2013.

Net sales for the full fiscal year ending August 31, 2014 amounted to $110.21 billion, also up 7% from $102.87 billion in previous fiscal year.

Net income for the fourth fiscal quarter too rose to $697 million, or $1.58 per diluted share, compared to $617 million, or $1.40 per diluted share in the fourth quarter of fiscal 2013.

Net income for the fiscal year 2014 rose marginally to $2.06 billion or $4.65 per diluted share against $2.04 billion or $4.63 per diluted share in fiscal year 2013.

Costco said net income last year was positively impacted by a $62 million or $0.14 per diluted share tax benefit in connection with the portion of the special cash dividend paid in December 2012 to the Company 401(k) plan participants.

Costco currently operates 664 warehouses, including 469 in the United States and Puerto Rico, 88 in Canada, 33 in Mexico, 26 in the United Kingdom, 20 in Japan, 11 in Korea, 10 in Taiwan, six in Australia and one in Spain.

It plans to open additional eight new warehouses, which also includes relocating one warehouse by end of 2014.

Costco also operates electronic commerce web sites in US, Canada, United Kingdom and Mexico. (AR)

Fibre2fashion News Desk - India

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