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Tax benefits strengthen Costco's Q2 income
02 Mar '06
3 min read
Net sales for the first half of fiscal 2006 increased 11 percent to $26.45 billion from $23.75 billion during the first half of fiscal 2005.
Net income for the first half of fiscal 2006 increased 3 percent to $512.0 million, or $1.06 per diluted share, compared to net income for the first half of fiscal 2005 of $498.6 million, or $1.02 per diluted share.
Without the impact of the prior year's second quarter tax benefit and the cumulative charge to preopening expenses (above), net income for the first half of fiscal 2005 would have been $456.5 million, or $.94 per diluted share.
Reported earnings of $1.06 per diluted share for the first half of fiscal 2006 represents a 13 percent increase over the prior year's adjusted earnings per share of $.94.
The Company today also reported net sales of $4.21 billion for the four-week retail reporting month of February, the four weeks ended February 26, 2006, an increase of 11 percent from $3.78 billion in the same four-week period of the prior fiscal year.
For the six-month retail reporting period of September through February, the twenty-six weeks ended February 26, 2006, which includes the first two weeks of the Company's fiscal third quarter, the Company reported net sales of $28.55 billion, an increase of 11 percent from $25.62 billion during the comparable period of the prior fiscal year.
Costco currently operates 471 warehouses, including 346 in the United States and Puerto Rico, 66 in Canada, 17 in the United Kingdom, five in Korea, four in Taiwan, five in Japan and 28 in Mexico.
Net income for the first half of fiscal 2006 increased 3 percent to $512.0 million, or $1.06 per diluted share, compared to net income for the first half of fiscal 2005 of $498.6 million, or $1.02 per diluted share.
Without the impact of the prior year's second quarter tax benefit and the cumulative charge to preopening expenses (above), net income for the first half of fiscal 2005 would have been $456.5 million, or $.94 per diluted share.
Reported earnings of $1.06 per diluted share for the first half of fiscal 2006 represents a 13 percent increase over the prior year's adjusted earnings per share of $.94.
The Company today also reported net sales of $4.21 billion for the four-week retail reporting month of February, the four weeks ended February 26, 2006, an increase of 11 percent from $3.78 billion in the same four-week period of the prior fiscal year.
For the six-month retail reporting period of September through February, the twenty-six weeks ended February 26, 2006, which includes the first two weeks of the Company's fiscal third quarter, the Company reported net sales of $28.55 billion, an increase of 11 percent from $25.62 billion during the comparable period of the prior fiscal year.
Costco currently operates 471 warehouses, including 346 in the United States and Puerto Rico, 66 in Canada, 17 in the United Kingdom, five in Korea, four in Taiwan, five in Japan and 28 in Mexico.
Costco Wholesale Corporation
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