Company: COST
Filing Date: 2025-03-13
Form Type: 10-Q
Source: 0000909832-25-000015
Chunk: 50

Company: COSTCO WHOLESALE CORP /NEW
Filing Date: 2025-03-13
Form: 10-Q
Item: Item 8
Chunk 50
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 and 2024 relate to the 24 weeks ended February 16, 2025, and February 18, 2024. Certain percentages presented are calculated using actual results prior to rounding.

Highlights for the second quarter of 2025 versus 2024 include:

•Net sales increased 9% to $62,530, driven by an increase in comparable sales and sales at 23 net new warehouses opened since the end of the second quarter of 2024;

•Membership fee revenue increased 7% to $1,193, primarily driven by new member sign-ups and membership fee increases;

•Gross margin percentage increased five basis points; four basis points excluding the impact of gasoline price deflation on net sales;

•SG&A expenses as a percentage of net sales decreased eight basis points; nine basis points excluding the impact of gasoline price deflation;

•Net income was $1,788, $4.02 per diluted share, compared to $1,743, $3.92 per diluted share in 2024; and

•A quarterly cash dividend of $1.16 per share was declared on January 23, 2025, and paid on February 21, 2025.

20

RESULTS OF OPERATIONS

Net Sales12 Weeks Ended24 Weeks EndedFebruary 16,2025February 18,2024February 16,2025February 18,2024Net Sales$62,530 $57,331 $123,515 $114,048 Increases in net sales:U.S.11 %4 %9 %4 %Canada5 %8 %6 %8 %Other International 5 %10 %6 %13 %Total Company9 %6 %8 %6 %Increases in comparable sales(1):U.S.8 %4 %7 %3 %Canada5 %9 %5 %8 %Other International2 %9 %3 %10 %Total Company7 %6 %6 %5 %E-commerce21 %18 %17 %12 %Increases in comparable sales excluding the impact of changes in foreign-currency and gasoline prices(1):U.S.9 %5 %8 %4 %Canada10 %9 %9 %9 %Other International10 %8 %9 %8 %Total Company9 %6