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Costco Wholesale Corporation Reports Fourth Quarter and Fiscal Year 2026 Operating Results

ISSAQUAH, Wash., Sept. 24, 2026 (GLOBE NEWSWIRE) -- Costco Wholesale Corporation (“Costco” or the “Company”) (Nasdaq: COST) today announced its operating results for the 16-week fourth quarter and the 52-week fiscal year ended August 30, 2026.

Net sales for the quarter increased 11.2 percent, to $93.9 billion, from $84.4 billion last year. Net sales for the fiscal year increased 10.1 percent, to $297.2 billion, from $269.9 billion last year.

Comparable sales for the fourth quarter and fiscal year were as follows:

  16 Weeks   16 Weeks   52 Weeks   52 Weeks
      Adjusted*       Adjusted*
U.S. 10.7%   7.2%   8.2%   6.6%
Canada 5.0%   4.6%   7.8%   6.7%
Other International 7.0%   6.2%   9.8%   6.5%
               
Total Company 9.4%   6.7%   8.4%   6.6%
               
Digitally-Enabled 19.5%   19.8%   20.9%   20.7%

*Excluding the impacts from changes in gasoline prices and foreign exchange.

Net income for the fourth quarter was $2.998 billion, $6.75 per diluted share, compared to $2.610 billion, $5.87 per diluted share, last year. This year’s fourth quarter was positively impacted by a non-recurring benefit of $0.15 per diluted share from IEEPA tariff refunds received in the quarter, less partial reinvestment of those refunds in increased member values. Net income for the fiscal year was $9.226 billion, $20.76 per diluted share, compared to $8.099 billion, $18.21 per diluted share, last year.

Costco currently operates 939 warehouses, including 647 in the United States and Puerto Rico, 115 in Canada, 43 in Mexico, 37 in Japan, 29 in the United Kingdom, 20 in Korea, 15 in Australia, 14 in Taiwan, seven in China, five in Spain, three in France, two in Sweden, and one each in Iceland, and New Zealand. Costco also operates e-commerce sites in the U.S., Canada, the U.K., Mexico, Korea, Taiwan, Japan, Australia, and China.

A conference call to discuss these results is scheduled for 2:00 p.m. (PT) today, September 24, 2026, and will be available via a webcast on investor.costco.com (click “Events & Presentations”).

Certain statements contained in this document constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. For these purposes, forward-looking statements are statements that address activities, events, conditions or developments that the Company expects or anticipates may occur in the future. In some cases forward-looking statements can be identified because they contain words such as “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “intend,” “likely,” “may,” “might,” “plan,” “potential,” “predict,” “project,” “seek,” “should,” “target,” “will,” “would,” or similar expressions and the negatives of those terms. Such forward-looking statements involve risks and uncertainties that may cause actual events, results or performance to differ materially from those indicated by such statements. These risks and uncertainties include, but are not limited to, domestic and international economic conditions, including exchange rates, inflation or deflation, the effects of competition and regulation, uncertainties in the financial markets, consumer and small business spending patterns and debt levels, breaches of security or privacy of member or business information, conditions affecting the acquisition, development, ownership or use of real estate, capital spending, actions of vendors, rising costs associated with employees (generally including health-care costs and wages), workforce interruptions, energy and certain commodities, geopolitical conditions (including tariffs and global conflicts), the ability to maintain effective internal control over financial reporting, regulatory and other impacts related to environmental and social matters, public-health related factors, and other risks identified from time to time in the Company’s public statements and reports filed with the Securities and Exchange Commission. Forward-looking statements speak only as of the date they are made, and the Company does not undertake to update these statements, except as required by law. Comparable sales and comparable sales excluding impacts from changes in gasoline prices and foreign exchange are intended as supplemental information and are not a substitute for net sales presented in accordance with U.S. GAAP.

CONTACTS: Costco Wholesale Corporation
  Josh Dahmen, 425/313-8254
  Andrew Yoon, 425/313-6305
  Bryan Starnes, 425/427-7403
   

COST-Earn

COSTCO WHOLESALE CORPORATION
CONSOLIDATED STATEMENTS OF INCOME
(dollars in millions, except per share data) (unaudited)
       
  16 Weeks Ended   52 Weeks Ended
  August 30, 2026   August 31, 2025   August 30, 2026   August 31, 2025
REVENUE              
Net sales         $ 93,873     $ 84,432     $ 297,247     $ 269,912  
Membership fees           1,850       1,724       5,907       5,323  
Total revenue           95,723       86,156       303,154       275,235  
OPERATING EXPENSES              
Merchandise costs           83,531       75,037       264,279       239,886  
Selling, general and administrative           8,391       7,778       27,190       24,966  
Operating income           3,801       3,341       11,685       10,383  
OTHER INCOME (EXPENSE)              
Interest expense           (45 )     (46 )     (145 )     (154 )
Interest income and other, net           253       215       711       589  
INCOME BEFORE INCOME TAXES   4,009       3,510       12,251       10,818  
Provision for income taxes           1,011       900       3,025       2,719  
NET INCOME         $ 2,998     $ 2,610     $ 9,226     $ 8,099  
               
NET INCOME PER COMMON SHARE:              
Basic         $ 6.75     $ 5.88     $ 20.78     $ 18.24  
Diluted         $ 6.75     $ 5.87     $ 20.76     $ 18.21  
               
Shares used in calculation (000’s):              
Basic           443,975       444,007       443,953       443,985  
Diluted           444,364       444,706       444,427       444,803  
               


COSTCO WHOLESALE CORPORATION
CONSOLIDATED BALANCE SHEETS
(amounts in millions, except par value and share data) (unaudited)
       
Subject to Reclassification      
  August 30,
2026
  August 31,
2025
ASSETS      
CURRENT ASSETS      
Cash and cash equivalents         $ 20,207     $ 14,161  
Short-term investments           1,094       1,123  
Receivables, net           3,959       3,203  
Merchandise inventories           19,324       18,116  
Other current assets           1,998       1,777  
Total current assets           46,582       38,380  
OTHER ASSETS      
Property and equipment, net           35,633       31,909  
Operating lease right-of-use assets           2,697       2,725  
Other long-term assets           4,133       4,085  
TOTAL ASSETS         $ 89,045     $ 77,099  
LIABILITIES AND EQUITY      
CURRENT LIABILITIES      
Accounts payable         $ 22,591     $ 19,783  
Accrued salaries and benefits           5,641       5,205  
Accrued member rewards           3,037       2,677  
Deferred membership fees           3,006       2,854  
Current portion of long-term debt           2,248       75  
Other current liabilities           7,429       6,514  
Total current liabilities           43,952       37,108  
OTHER LIABILITIES      
Long-term debt, excluding current portion           3,914       5,713  
Long-term operating lease liabilities           2,414       2,460  
Other long-term liabilities           2,962       2,654  
TOTAL LIABILITIES           53,242       47,935  
COMMITMENTS AND CONTINGENCIES      
EQUITY      
Preferred stock $0.005 par value; 100,000,000 shares authorized; no shares issued and outstanding           —       —  
Common stock $0.005 par value; 900,000,000 shares authorized; 443,266,000 and 443,237,000 shares issued and outstanding           2       2  
Additional paid-in capital           8,830       8,282  
Accumulated other comprehensive loss           (1,620 )     (1,770 )
Retained earnings           28,591       22,650  
TOTAL EQUITY           35,803       29,164  
TOTAL LIABILITIES AND EQUITY         $ 89,045     $ 77,099  
           


COSTCO WHOLESALE CORPORATION
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
(amounts in millions) (unaudited)
   
Subject to Reclassification  
  52 Weeks Ended
  August 30,
2026
  August 31,
2025
CASH FLOWS FROM OPERATING ACTIVITIES      
Net income         $ 9,226     $ 8,099  
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization           2,674       2,426  
Non-cash lease expense           318       303  
Stock-based compensation           924       860  
Other non-cash operating activities, net           355       (117 )
Changes in working capital           2,328       1,764  
Net cash provided by operating activities           15,825       13,335  
CASH FLOWS FROM INVESTING ACTIVITIES      
Additions to property and equipment           (6,435 )     (5,498 )
Purchases of short-term investments           (788 )     (1,028 )
Maturities of short-term investments           811       1,141  
Other investing activities, net           26       74  
Net cash used in investing activities           (6,386 )     (5,311 )
CASH FLOWS FROM FINANCING ACTIVITIES      
Repayments of short-term borrowings           (577 )     (862 )
Proceeds from short-term borrowings           553       816  
Repayments of long-term debt           (69 )     (103 )
Proceeds from issuance of long-term debt           496       —  
Tax withholdings on stock-based awards           (361 )     (393 )
Repurchases of common stock           (848 )     (903 )
Cash dividend payments           (2,458 )     (2,183 )
Financing lease payments and other financing activities, net           (91 )     (147 )
Net cash used in financing activities           (3,355 )     (3,775 )
EFFECT OF EXCHANGE RATE CHANGES ON CASH AND CASH EQUIVALENTS           (38 )     6  
Net change in cash and cash equivalents           6,046       4,255  
CASH AND CASH EQUIVALENTS BEGINNING OF YEAR           14,161       9,906  
CASH AND CASH EQUIVALENTS END OF YEAR         $ 20,207     $ 14,161  



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