Costco Wholesale Corporation – COST – Plans to open up to 14 new warehouses
Costco Wholesale Corporation (NASDAQ: COST) announced its operating results for the 17-week fourth quarter and the 53-week fiscal year 2012 ended September 2, 2012.
Net sales for the 17-week fourth quarter were $31.52 billion, an increase of 14 percent from $27.59 billion in the 16-week fourth quarter of fiscal 2011 ended August 28, 2011. Net sales for the 53-week fiscal year 2012 were $97.06 billion, an increase of 12 percent from $87.05 billion in the prior 52-week fiscal year.
Net income for the 17-week fourth quarter of fiscal 2012 was $609 million, or $1.39 per diluted share, compared to $478 million, or $1.08 per diluted share, during the 16-week fourth quarter of fiscal 2011. The fourth quarter this year included an $11.5 million pretax LIFO charge ($.02 per diluted share) compared to a $32 million pretax LIFO charge ($.04 per diluted share) in the fourth quarter of fiscal 2011. Net income for the 53-week fiscal 2012 was $1.71 billion, or $3.89 per diluted share, compared to $1.46 billion, or $3.30 per diluted share, during the 52-week fiscal year 2011. For all of fiscal 2012, the LIFO charge was $20.5 million pretax ($.03 per diluted share), compared to an $87 million pretax ($.12 per diluted share) LIFO charge last year.
Costco ended its 2012 fiscal year on September 2 with 608 warehouses in operation, including 439 in the United States and Puerto Rico, 82 in Canada, 32 in Mexico, 22 in the United Kingdom, 13 in Japan, nine in Taiwan, eight in Korea, and three in Australia. The Company plans to open up to 14 new warehouses before the end of calendar year 2012.
About Costco Wholesale Corporation – COST
Costco Wholesale Corporation (COST), with its subsidiaries operates membership warehouses that offer its members low prices on a limited selection of branded and selected private-label products in a range of merchandise categories. COST buys the majority of its merchandise directly from manufacturers and route it to a cross-docking consolidation point (depot) or directly to its warehouses. COST depots receive container-based shipments from manufacturers and reallocate these goods for shipment to its individual warehouses, generally in less than 24 hours. Costco’s warehouse format averages approximately 143,000 square feet. Its warehouses operate on a seven-day, 69-hour week. COST carries an average of approximately 3,600 active stock keeping units (SKUs) per warehouse in its core warehouse business. Many consumable products are offered for sale only in case, carton, or multiple-pack quantities only.
More Posts by this author
- Stocks End on a Mixed Note
- Gold Prices Settle Higher; Silver Prices also Gain
- Stocks Marginally Higher in Late Trading
- Safeway Inc. – SWY – Pleased with progress in operating profit
- Stocks in Green in Mid-Day Trading
- Winnebago Industries – WGO – Pleased with the results for the fourth quarter
- Cantel Medical – CMN – Record sales and earnings this quarter
 |
Post Written By: Ed Liston
Ed Liston is a senior contributing editor at TheStockMarketWatch.com. An active market watcher and investor, Ed guides an independent team of experienced analysts and writes for multiple stock trader publications. He is widely quoted in various financial publications on the Internet. When Ed is not writing about stocks, investing in stocks, talking about stocks, or otherwise doing something stock related, he likes to go sailing and fishing in his yacht.
|
