Costco Wholesale Reports Strong Q2 and Year-to-Date Results for Fiscal 2025
ISSAQUAH, Wash., March 6, 2025 – Costco Wholesale Corporation (Nasdaq: COST) has released its second quarter and year-to-date operating results for fiscal 2025, along with February sales data. The company posted strong sales growth and increased earnings amid continued consumer demand and e-commerce expansion.

Key Financial Highlights
Second Quarter (12 Weeks Ending February 16, 2025)
Net sales: $62.53 billion, a 9.1% increase from $57.33 billion in Q2 2024.
Net income: $1.79 billion ($4.02 per diluted share), compared to $1.74 billion ($3.92 per share) in Q2 2024.
First 24 Weeks of Fiscal 2025
Net sales: $123.52 billion, an 8.3% increase from $114.05 billion in the prior year.
Net income: $3.59 billion ($8.06 per share), compared to $3.33 billion ($7.49 per share) last year.
Comparable Sales Growth (Excluding Gas & FX Adjustments)
Total Company: 9.1% (Q2) | 8.1% (24 weeks)
U.S.: 8.6% (Q2) | 7.9% (24 weeks)
Canada: 10.5% (Q2) | 8.6% (24 weeks)
Other International: 10.3% (Q2) | 8.7% (24 weeks)
E-commerce: 22.2% (Q2) | 17.9% (24 weeks)
February 2025 Sales Data (4 Weeks Ending March 2, 2025)
Net sales: $19.81 billion, up 8.8% from $18.21 billion in February 2024.
Comparable Sales Growth (Excluding Gas & FX Adjustments):
Total Company: 8.3%
U.S.: 8.6%
Canada: 8.7%
Other International: 6.5%
E-commerce: 20.2%
Operational Highlights
Warehouse Growth: Costco now operates 897 locations worldwide, including:
617 in the U.S. and Puerto Rico
109 in Canada
41 in Mexico
36 in Japan
29 in the U.K.
19 in Korea
15 in Australia
14 in Taiwan
7 in China
5 in Spain
2 in France
1 each in Iceland, New Zealand, and Sweden
E-commerce Expansion: Operates online shopping platforms in the U.S., Canada, the U.K., Mexico, Korea, Taiwan, Japan, and Australia.
Management Commentary
"We continue to see strong consumer demand, particularly in e-commerce and core merchandise categories," said Richard Galanti, CFO of Costco Wholesale Corporation. "Our ability to deliver consistent value to our members, combined with our efficient operations and expanding global footprint, has been key to our sustained growth."

Investor Call and Forward-Looking Statements
Costco will host a conference call today at 2:00 PM PT (5:00 PM ET) to discuss the results. The webcast can be accessed at investor.costco.com under the "Events & Presentations" section.

Costco also provided cautionary statements regarding forward-looking projections, emphasizing that future performance may be impacted by economic conditions, inflation, regulatory factors, and changes in consumer behavior.

Costco and the Teamsters union have reached a tentative agreement, averting a potential strike by approximately 18,000 workers across six states, including California, Washington, and New York. The agreement, which will be presented to union members for a vote, was announced shortly after the previous contract expired at midnight on January 31.

Costco has announced a wage increase for its employees as it faces the possibility of a strike by 18,000 unionized workers. Under the new agreement, senior staff will see their pay rise to over $30 per hour over the next three years, while entry-level wages will increase to $20 per hour. The move comes amid negotiations with the Teamsters union, which argues that the increases may not fully address worker demands. The union has authorized a strike if an agreement is not reached, potentially disrupting operations at Costco locations across the country.

Costco Wholesale Corporation announced that its Board of Directors has declared a quarterly cash dividend of **$1.16 per share** on Costco common stock. The dividend will be payable on **February 21, 2025**, to shareholders of record as of the close of business on **February 7, 2025**.

Costco operates **897 warehouses** globally, including **617 in the United States and Puerto Rico**, along with locations in **Canada (109), Mexico (41), Japan (36), the United Kingdom (29), Korea (19), Australia (15), Taiwan (14), China (7), Spain (5), France (2), and one each in Iceland, New Zealand, and Sweden**. Additionally, Costco runs e-commerce sites in several countries, including the U.S., Canada, and the U.K.

Forward-looking statements included in the announcement address risks such as economic conditions, inflation, competition, and other uncertainties that may affect future performance. For further details, contact Costco's representatives David Sherwood, Josh Dahmen, or Andrew Yoon at the numbers provided.

The Teamsters union, representing over 18,000 Costco employees in the United States, has voted to authorize a nationwide strike as negotiations for a new contract approach their January 31 deadline. The union announced that 85% of its members supported the strike authorization, citing dissatisfaction with Costco’s approach to bargaining. The master agreement between the union and the company is set to expire at the end of the month. Final negotiations begin on January 20, with the potential strike looming if no agreement is reached. Costco has not commented on the situation.