Costco nets some wholesale income gains
Costco Wholesale Corp has announced results of operations for the fourth quarter and fiscal year ended Aug 29, 2004.
Net sales for fiscal 2004 were $47.15 billion, an increase of 13% from $41.69 billion during the prior 52-week fiscal year ended Aug 31, 2003. Comparable warehouse sales gained 10% over the comparable 52-week period of fiscal 2003. Net sales for the fourth quarter ended Aug 29, 2004, rose 11% to $14.83 billion from $13.42 billion during the same period ended Aug 31, 2003. Comparable warehouse sales during the fiscal 2004 quarter advanced 8% over the comparable 16-week period in the prior fiscal year.
Net income for the 2004 fourth quarter surged 24% to $296.8 million from $239.4 million during the fourth quarter of fiscal 2003. Net income for fiscal 2004 climbed 22% to $882.4 million from $721.0 million during fiscal year 2003.
