Summary by Moomoo AI
Costco reported strong financial results for Q4 FY2024, with net income reaching $2.354 billion ($5.29 per diluted share), up from $2.16 billion in the previous year. The quarter included a non-recurring tax benefit of $63 million. Net sales for Q4 increased 1% to $78.2 billion, while full-year sales grew 5% to $249.6 billion.Comparable sales showed robust growth across all regions, with total company comps up 5.4% (6.9% adjusted). E-commerce sales demonstrated significant momentum, surging 18.9%. The company's membership fees generated $1.512 billion in Q4, contributing to annual membership revenue of $4.828 billion.Costco continues its global expansion, now operating 891 warehouses across 13 countries, including 614 locations in the United States and Puerto Rico. The company maintains a strong e-commerce presence in eight countries, supporting its multichannel retail strategy.
