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Costco Wholesale Corporation (COST-3.93%) has submitted its 10-Q filing for the quarterly period ended February 16, 2025.
The filing includes financial statements for the quarter, showing an increase in net sales to $62,530 million from $57,331 million in the same quarter the previous year. The increase is attributed to a rise in comparable sales and sales from new warehouse openings.
Membership fee revenue rose to $1,193 million from $1,111 million, driven by new member sign-ups and membership fee increases.
Operating income for the quarter was $2,316 million, compared to $2,062 million in the previous year, with the increase attributed to improved gross margins and controlled SG&A expenses.
Net income for the quarter was $1,788 million, or $4.02 per diluted share, compared to $1,743 million, or $3.92 per diluted share, in the previous year.
Cash provided by operating activities was $6,008 million, while cash used in investing and financing activities was $2,007 million and $1,434 million, respectively.
Costco declared a quarterly cash dividend of $1.16 per share, paid on February 21, 2025.
The filing also details various legal proceedings, including class action suits and investigations, none of which are expected to have a material adverse effect on the company's financial position.
Costco continues to focus on expanding its warehouse network, with plans to open additional locations in the coming months.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Costco Wholesale Corporation quarterly 10-Q report dated March 13, 2025. To report an error, please email earnings@qz.com.