Costco Wholesale Corporation Reports Second Quarter and Year-To-Date Operating Results for Fiscal 2018 and February Sales Results
Reported net income for the quarter was $701 million, or $1.59 per diluted share, compared to $515 million, or $1.17 per diluted share, last year. Earnings per share increased $0.17 due to a net income tax benefit of $74 million, as a result of the new tax laws. Excluding this benefit, net income grew 22%. Net income for the first 24 weeks of fiscal year 2018 was $1.34 billion, or $3.04 per diluted share, compared to $1.06 billion, or $2.41 per diluted share, last year. For the four-week reporting month of February, ended March 4, 2018, the Company reported net sales of $10.21 billion, an increase of 12.8 percent from $9.05 billion during the similar period last year. For the twenty-six week period ended March 4, 2018, net sales were $68.51 billion, an increase of 12.0 percent from $61.18 billion during the similar period last year. Click Read More below for additional information.