Costco net sales up 10% to $11.75bn for first 36 weeks of fiscal 2005
26 May '05
3 min read
a largest departmental store, costco wholesale corporation announced its operating results for the third quarter (12 weeks) and the first thirty-six weeks of fiscal 2005, ended may 8, 2005.
net sales for the third quarter of fiscal 2005 increased 10% to $11.75 billion from $10.67 billion during the third quarter of fiscal 2004. on a comparable warehouse basis, that is warehouses open at least a year, net sales increased 7%.
net income for the third quarter of fiscal 2005 increased 6% to $209.8 million, or $.43 per diluted share, from $198.7 million, or $.42 per diluted share, during the third quarter of fiscal 2004.
net sales for the first thirty-six weeks of fiscal 2005 increased 10% to $35.50 billion from $32.31 billion during the first thirty-six weeks of fiscal 2004. comparable warehouse sales during the first thirty-six weeks of fiscal 2005 increased 7% over the prior year's level.
net income for the first thirty-six weeks of fiscal 2005 increased 21% to $708.4 million, or $1.45 per diluted share, compared to net income for the first thirty-six weeks of fiscal 2004 of $585.6 million, or $1.23 per diluted share. in the second quarter of fiscal 2005, the company realized a one-time $52.1 million income tax benefit that resulted primarily from the settlement of a transfer pricing dispute between the united states and canada; and also recorded a one-time cumulative pretax non-cash charge of $16.0 million ($10.0 million after tax) related to an adjustment to its method of accounting for certain leases.
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