Company: COST
Filing Date: 2025-10-08
Form Type: 10-K
Source: 0000909832-25-000101
Chunk: 51

Company: COSTCO WHOLESALE CORP /NEW
Filing Date: 2025-10-08
Form: 10-K
Item: Item 7
Chunk 51
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97, $0.22 per diluted share; and

•In April, the Board of Directors approved a 12% increase in the quarterly cash dividend.

25

RESULTS OF OPERATIONS

Net Sales

202520242023Net Sales$269,912$249,625$237,710Changes in net sales:U.S.9 %4 %7 %Canada6 %6 %4 %Other International8 %9 %9 %Total Company8 %5 %7 %Changes in comparable sales(1):U.S.6 %4 %3 %Canada5 %7 %2 %Other International5 %8 %3 %Total Company6 %5 %3 %E-commerce16 %16 %(6)%Changes in comparable sales excluding the impact of changes in foreign-currency and gasoline prices(1):U.S.7 %5 %4 %Canada8 %8 %8 %Other International8 %8 %8 %Total Company8 %6 %5 %E-commerce16 %16 %(5)%_______________

(1)Comparable sales for 2024 were calculated using comparable retail weeks.

Net sales increased $20,287 or 8% during 2025. The improvement was primarily attributable to an increase in comparable sales of $14,788 or 6%. Comparable sales were positively impacted by increases of 5% in shopping frequency and approximately 1% in average ticket. The remaining increase in net sales was driven by sales at the 24 net new warehouses opened since the end of 2024.

Sales increased $19,086 or 10% in core merchandise categories, increasing in all categories. Sales in warehouse ancillary and other businesses increased $1,201, or 2%.

Lower gasoline prices negatively impacted net sales by $2,329, or 93 basis points, with an 8% decrease in the average price per gallon. The volume of gasoline sold increased approximately 2%, positively impacting net sales by $440, or 18 basis points.

Changes in foreign currencies relative to the U.S. dollar negatively impacted net sales by approximately $1,943, or 78 basis points, attributable to our Other International and Canadian operations.

Membership Fees

202520242023Membership fees$5,323$4,828$4,580

Membership fee revenue increased 10% in 2025, driven by new