Costco Wholesale Corporation Reports First Quarter Fiscal Year 2023 Operating Results

Costco Wholesale Corporation (“Costco” or the “Company”) (Nasdaq: COST) today announced its operating results for the first quarter (twelve weeks) of fiscal 2023, ended November 20, 2022.

Net sales for the first quarter increased 8.1 percent, to $53.44 billion from $49.42 billion last year.

Net income for the quarter was $1,364 million, $3.07 per diluted share, compared to $1,324 million, $2.98 per diluted share, last year. This year’s results included a charge of $93 million pre-tax, $0.15 per diluted share, primarily related to downsizing our charter shipping activities, and a tax benefit of $53 million, $0.12 per diluted share, related to stock-based compensation. Last year’s results included a write-off of certain information technology assets of $118 million pre-tax, $0.20 per diluted share, and a tax benefit of $91 million, $0.21 per diluted share, related to stock-based compensation.
further details at: https://investor.costco.com/news/news-details/2022/Costco-Wholesale-Corporation-Reports-First-Quarter-Fiscal-Year-2023-Operating-Results/default.aspx

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