Costco sees boost in Q2 sales

ISSAQUAH, Wash. — Costco posted a boost in second-quarter sales and net income.



Net sales for the quarter increased 4% to $26.87 billion compared with $25.76 billion in the year-ago period. Total comparable sales increased 2% during the quarter, while comparable sales climbed 4% in the United States.



Net income was $598 million, or $1.35 per diluted share, compared with $463 million, or $1.05 per diluted share, in the year-ago period.



"Net income was positively impacted by a $57 million (13 cents per diluted share) tax benefit in connection with February's special cash dividend to the extent received by the company 401(k) plan participants. In addition, this quarter's net income was negatively impacted by a $14 million (3 cents per diluted share) tax charge relating to an ongoing income tax matter,” stated Richard Galanti, CFO.