Comps, profit jump at Costco in Q4

ISSAQUAH, Wash. -- Profit rose 1.7% and comparable sales increased 2% at Costco during the fourth quarter.

The club retailer said net income for the fourth quarter ended Aug. 28 was $779 million, or $1.77 per diluted share, compared to $767 million, or $1.73 per diluted share, last year. Net income for the fiscal year was $2.35 billion, or $5.33 per diluted share, compared to $2.38 billion, or $5.37 per diluted share, last year. 

Net sales for the fourth quarter were $35.73 billion, an increase of 2% from $34.99 billion in fiscal 2015. Net sales for the fiscal year were $116.07 billion, an increase of 2% from $113.67 billion last year.



Comparable sales figures excluded the negative impacts from gasoline price deflation and foreign exchange.

Costco ended its 2016 fiscal year with 715 warehouses.