Costco has reported another solid set of growth figures for its fiscal year, despite weakness in its e-commerce operations.
For the 53 weeks ending 3 September 2023, net sales rose by 6.7% to $237.7bn, while operating profit grew by 4.1% to $8.1bn, while net profit was up 7.7% to $6.3bn.
On an adjusted basis, like-for-like sales rose by 5.2% for the year, helped by a 4.2% increase in the US, 8.1% growth in Canada, and a 7.6% jump in other markets. However, the online unit saw LFL sales decline by 4.8% on an adjusted basis for the period.
Costco currently operates 891 warehouses globally.
