ISSAQUAH, WA - Costco Wholesale Corporation announced its third-quarter results, ending May 13, 2018. The company saw an increase in both net sales and net income, perhaps due to its latest investments in e-commerce and delivery services.

Costco will reportedly open its first brick-and-mortar location in China in the next year, with another to follow by 2021

Highlights from the quarterly report are listed as follows:

• Net sales for the quarter increased 12.1 percent, $31.62 billion in comparison to last year’s $28.2 billion.
• Net sales for the first 36 weeks of fiscal 2018 increased 12.0 percent, $95.02 billion from last year’s $84.2 billion.
• Net income for the quarter was $750 million, or $1.70 per diluted share, compared to $700 million, or $1.59 per diluted share last year.
• Net income for the first thirty-six weeks of fiscal year 2018 was $2.09 billion, or $4.74 per diluted share, compared to $1.76 billion, or $3.99 per diluted share, last year.

While the company's financial results beat analysts' estimates, the company's shares slipped in after hours trading as its margins narrowed, according to Bloomberg, Reuters, and several other news sources.

For the full report, click here.

Will Costco’s financial growth continue to climb as it ups its e-commerce efforts? Stick with us at AndNowUKnow for the latest.

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