Financial Data and Key Metrics - Net income for Q4 2024 was $2.354 billion, up 9% YoY, with earnings per diluted share at $5.29, compared to $4.86 in the previous year [10] - Net sales for Q4 2024 were $78.2 billion, a 1% increase YoY, or 7.3% when adjusted for the extra week in the previous year [11] - Comparable sales (comps) increased by 5.4% globally, with US comps up 5.3%, Canada up 5.5%, and other international markets up 5.7% [12] - E-commerce comp sales grew by 18.9%, or 19.5% when adjusted for FX [12] - Membership fee income increased by 0.2% to $1.512 billion, with a renewal rate of 92.9% in the US and Canada [13][14] Business Line Performance - E-commerce saw significant growth, with Costco Logistics delivering over 4.5 million items, up 29% YoY, driven by appliances and furniture [8] - Non-foods led core merchandising sales, with double-digit growth in categories like golden jewelry, gift cards, toys, and home furnishings [20] - Fresh departments saw high single-digit growth, with strong performance in meat, produce, and bakery [20][21] - Kirkland Signature products continued to grow faster than the overall business, with new items like organic maple syrup and aerosol whipped cream driving value [22] Market Performance - US comp sales increased by 5.3%, or 6.3% excluding gas deflation [12] - Canada comp sales rose by 5.5%, or 7.9% excluding gas deflation and FX [12] - Other international comp sales grew by 5.7%, or 9.3% when adjusted [12] - Gas sales were negatively impacted by a 5% decrease in average price per gallon, partially offset by a 3% increase in gallons sold [24] Company Strategy and Industry Competition - The company opened 29 net new warehouses in FY2024, with plans to open 26 net new buildings in FY2025, including 12 outside the US [7] - Costco is focusing on sustainability, with initiatives like reducing plastic packaging by 80% for Kirkland Signature laundry packs, leading to cost savings passed on to members [23] - The company is investing in technology, such as the Costco app and membership card scanners, to enhance the member experience and improve operational efficiency [9] Management Commentary on Operating Environment and Future Outlook - Management highlighted the importance of investing in employees and members, with wage increases and price reductions as part of the strategy to drive top-line growth [31][32] - The company is optimistic about growth opportunities in digital capabilities, global warehouse expansion, and innovation with Kirkland Signature products [28] - Inflation was effectively flat in Q4, with food and sundries slightly inflationary, offset by deflation in non-foods [25] Other Important Information - The company introduced a membership fee increase effective September 1, 2024, with most of the financial impact expected in the second half of FY2025 and into FY2026 [27] - Costco Next, the curated marketplace, added 11 new vendors, bringing the total to 86, with gross sales growing nearly 40% YoY [27] Q&A Session Summary Question: SG&A Leverage and Wage Investments - The company aims to balance investments in employees and members while driving top-line growth and productivity to offset wage increases [31][32][33] Question: Impact of Membership Card Scanners - The card scanners have improved front-end productivity and member interactions, with some locations seeing double-digit increases in new sign-ups [35][44] Question: Port Strike Risk and Ocean Freight Rates - The company has contingency plans for potential port disruptions, with nonfoods being the most exposed category [38][39] - Freight rates are expected to stabilize, with most of Costco's freight under contract, insulating the company from spot market volatility [41] Question: Inflation and Deflation Expectations - Inflation was flat in Q4, with slight inflation in fresh foods and deflation in non-foods, driven by commodity price changes [67][68] Question: Consumer Behavior and Health - Consumers are prioritizing value and quality, with increased spending on non-food items as inflation dissipates [76][77] Question: E-commerce Penetration and Profitability - E-commerce penetration is in the high single digits, with profitability improving due to sales growth and fulfillment efficiency [85][88] Question: Competitive Pricing in Grocery - Costco remains focused on being the first to lower prices and the last to raise them, with a proactive approach to pricing [91][92] Question: Gas Prices and Traffic Impact - Gas price declines have not significantly impacted warehouse traffic, with gallons sold up 3% YoY [94] Question: Pre-Tax Margin and Profitability - The company focuses on driving top-line growth while finding efficiencies in gross margin and SG&A to improve profitability [97][98] Question: Gasoline Profitability - Gasoline margins are relatively stable, with no significant changes expected in the near term [105] Question: Average Wages - The average wage in the US and Canada is just over $30 per hour [107]

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Thursday, September 26th, 2024The S&P 500 notched a new all-time closing high Thursday, rising by +23 points or +0.40%, to 5745. And it was the laggard among major stock market indexes for the session: the Dow grew +260 points, +0.62%, while the Nasdaq gained +108, +0.60%, and the small-cap Russell 2000 +0.57% on the day.China Stimulus Brings Big GainsNew stimulus policies in China have helped spur some of that country’s biggest stocks notably higher today — and for the week. The big gains began on Tuesday ...

For the quarter ended August 2024, Costco (COST) reported revenue of $79.7 billion, up 1% over the same period last year. EPS came in at $5.15, compared to $4.86 in the year-ago quarter.The reported revenue represents a surprise of -0.07% over the Zacks Consensus Estimate of $79.75 billion. With the consensus EPS estimate being $5.05, the EPS surprise was +1.98%.While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectation ...

Key TakeawaysCostco Wholesale reported fiscal fourth-quarter earnings that topped analysts’ expectations but narrowly missed on revenue.The warehouse retailer's e-commerce sales came short of estimates despite rising 18.9% year-over-year, as the pace of growth slowed.While Costco's recent hike in membership fees didn't impact the period, investors will be watching how higher fees could affect the company’s results going forward. Costco Wholesale (COST) reported fiscal fourth-quarter earnings that topped ana ...

Costco (COST) came out with quarterly earnings of $5.15 per share, beating the Zacks Consensus Estimate of $5.05 per share. This compares to earnings of $4.86 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 1.98%. A quarter ago, it was expected that this warehouse club operator would post earnings of $3.70 per share when it actually produced earnings of $3.78, delivering a surprise of 2.16%.Over the last four quarters, the com ...

1 4 th Quarter FY 2024 Supplemental Information Q4 Highlights - Sales $78.2B Net Sales +1.0% Growth1 +5.4% Comparable Sales +6.9% Adjusted Comparable Sales2 +6.4% Comparable Traffic +18.9% E-Comm Comparable Sales -0.9% Comparable Ticket +19.5% Adjusted E-Comm Comparable Sales3 | --- | --- | --- | --- | --- | |------------|-------|--------|----------------------|----------------| | Comp Sales | US | Canada | Other International | Total Company | | Sales | +5.3% | +5.5% | +5.7% | +5.4% | | Ticket | -0.3% | -2 ...

About this content About Angela Harmantas Angela Harmantas is an Editor at Proactive. She has over 15 years of experience covering the equity markets in North America, with a particular focus on junior resource stocks. Angela has reported from numerous countries around the world, including Canada, the US, Australia, Brazil, Ghana, and South Africa for leading trade publications. Previously, she worked in investor relations and led the foreign direct investment program in Canada for the Swedish government ...

Exhibit 99.1 Press Release COSTCO WHOLESALE CORPORATION REPORTS FOURTH QUARTER AND FISCAL YEAR 2024 OPERATING RESULTS ISSAQUAH, Wash., September 26, 2024 - 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 September 1, 2024. For the 16-week fourth quarter, the Company reported net sales of $78.2 billion, an increase of 1.0 percent compared to net sales of $77.4 billion in the 17-week ...

ISSAQUAH, Wash., Sept. 26, 2024 (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 September 1, 2024. For the 16-week fourth quarter, the Company reported net sales of $78.2 billion, an increase of 1.0 percent compared to net sales of $77.4 billion in the 17-week fourth quarter of fiscal year 2023. For the 52-week fiscal year, the Company reported net sales of $249. ...