Costco earns 1,595 million euros in its second fiscal quarter, 18.9% more

The American distribution chain Costco Wholesale Corporation registered a net profit of 1,743 million dollars (1,595 million euros) in its second quarter of fiscal year 2024, which ended on February 18, which represents an advance of 18.9% compared to its result for the same period in 2023.

The American firm earned 58,442 million dollars (53,468 million euros) in total, 5.7% more. Of this amount, sales ‘per se’ accounted for the bulk of the turnover, 57,331 million dollars (52,452 million euros), a figure 5.7% higher than that recorded twelve months earlier. Membership commissions provided 1,111 million dollars (1,016 million euros), 8.2% more.

The statement indicated that net sales have been negatively affected by approximately 1.5% in the quarter and 0.5% in the first 24 weeks of fiscal 2024 due to the change in the fiscal calendar as a result of The previous year had 53 weeks.

For its part, Costco’s expenses amounted to 56,380 million dollars (51,582 million euros), 5.7% more. The multinational has explained that 51,140 million dollars (46,788 million euros) and 5,240 million dollars (4,794 million euros) corresponded to the headings of merchandise costs and selling, general and administrative expenses, respectively.

Costco currently operates a total of 875 warehouses, including 603 in the United States and Puerto Rico, 108 in Canada, 40 in Mexico, 33 in Japan, 29 in the United Kingdom, 18 in South Korea, 15 in Australia, 14 in Taiwan , six in China, four in Spain, two in France and one in Iceland, New Zealand and Sweden.

Likewise, Costco also has online stores in the US, Canada, the United Kingdom, Mexico, South Korea, Taiwan, Japan and Australia.

Already in the accumulated half-year, profits amounted to 3,332 million dollars (3,048 million euros), 17.7% more, while Costco expanded its turnover by 6%, reaching 116,241 million dollars (106,349 million euros ) in sales.