Costco reports 8% sales increase in its latest quarter

Costco Wholesale operates an international chain of membership warehouses.
Costco Wholesale operates an international chain of membership warehouses.

International wholesaler and retailer Costco has reported an increase in net sales by 8% from $26bn last year to $28bn this year for its third quarter ending 7 May 2017.

Costco’s global net sales for the first 36 weeks of its financial year have increased further by 6%, from $80bn to $85bn.

Overall, the net income for the quarter was $700m, compared to $545m last year in the same period.

This was partially as a result of the $82m tax benefit, in connection with the special dividend announcement last month that saw the chain announce plans to return $3.1bn to its shareholders.

A breakdown of figures for Costco’s UK arm was not made available.

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Priyanka Jethwa
A new addition to the Better Wholesaling team, Priyanka reports on the latest from the industry, keeping wholesalers up to date on the most recent news.

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