Costco Reports Record $8.10B Fiscal Year Net Income on Executive Membership Growth

Costco Wholesale Corp. reported strong financial results for its fiscal fourth quarter and full year, driven by increased sales, membership growth, and strategic operational changes. The company introduced extended shopping hours for executive members, contributing to a 1% boost in weekly U.S. sales and encouraging upgrades to the higher-tier membership, which offers benefits such as early access and 2% cash back. Costco's total revenue reached $86.2 billion for the quarter, an 8% increase year-over-year, with earnings per share of $5.87, surpassing analyst expectations. The retailer's resilient business model, which emphasizes membership fees and discounted bulk sales, has helped it navigate inflationary pressures and shifting consumer behaviors effectively. Additionally, Costco continues to expand globally, operating 914 warehouses worldwide and growing e-commerce platforms in multiple markets. The company's strong performance highlights its ability to maintain customer loyalty and profitability amid economic uncertainties.