ISSAQUAH, WA - Further showcasing its retail prowess, Costco revealed its fourth quarter and fiscal year 2021 financial results, detailing a net sales increase of 17.5 percent for the quarter and 17.7 percent increase for the fiscal year. This comes following a year of growth from the company, including new warehouses as well as the expansion of its self-service stations nationwide.

The results announced by Costco were for the 16-week fourth quarter and 52-week fiscal year, both ending August 29, 2021, according to the release. In addition to net sales for the quarter increasing from $52.38 billion at the same time last year to $61.44 billion, net sales for the fiscal year also showed a $28.83 billion boost from $163.22 billion to $192.05 billion.

Other highlights from the report include:

• Net income for the fourth quarter was $1.670 billion, or $3.76 per diluted share, compared to $1.389 billion, or $3.13 last year.
• Net income for the fiscal year was $5.01 billion, or $11.27 per diluted share, compared to $4.00 billion, or $9.02 per diluted share in the prior year
• Comparable e-commerce sales were 11.2 percent for the 16-week fourth quarter and 44.4 percent for the fiscal year

Costco currently operates 817 warehouses, including 565 in the United States and Puerto Rico, 105 in Canada, 39 in Mexico, 30 in Japan, 29 in the United Kingdom, 16 in Korea, 14 in Taiwan, 13 in Australia, three in Spain, and one each in Iceland, France, and China. The retailer also operates e-commerce sites in the U.S., Canada, the United Kingdom, Mexico, Korea, Taiwan, Japan, and Australia.

To read the report in its entirety, click here.

As Costco continues to evolve its retail market strategy, how will it further increase profitability? Keep reading AndNowUKnow for the latest updates.

Costco